Sarnoff to Head B'mann Venture Group

-- Publishers Weekly, 10/19/2006

Bertelsmann has formed a new venture capital fund and appointed Random House's Richard Sarnoff to head it. The fund, called Bertelsmann Digital Media Investments,will invest in emerging technologies and businesses. It will start with initial funding of 50 million euros. Sarnoff will serve as president of BDMI and continue in his role as president of Random House Corporate Development Group and its venture arm, Random House Ventures. BDMI will operate in partnership with each Bertelsmann division to evaluate appropriate investments.