Saban Capital quietly entered the business of venture capital a few months ago, adding an early-stage digital media practice to his seven-year-old, L.A.-based investment company, Saban Capital Group. For the uninitiated, Saban is a former television producer whose Saban Entertainment company gave the world, for better or worse, “Mighty Morphin Power Rangers” in the ‘90s [Editor's note: Saban also wrote the "Inspector Gadget" theme song].
Cooper hasn’t pulled the trigger on any investments yet. But in a short phone conversation, we talked a bit about Richard Yen, who joined Cooper in June from Blueprint Ventures; we discussed his focus on digital media and consumer wireless startups; and he explained why he’s cut back on his daily dose of TechCrunch.First, how did you meet Haim Saban?
I was a partner in the Softbank Tech Fund when we were first raising it in 2004, and Haim was an investor, and I got to know him very well. We started talking in the middle of 2007 about his position in LA and his capital.
Was that a long conversation? Fortune magazine estimates his net worth is more than $2 billion. How much is he giving you to invest?