Acclaimed actress, director and producer Olivia Wilde quietly launched a venture fund called Proximity Ventures last year. Wilde, who has appeared in films like Tron: Legacy, Her, A Vigilante and Meadowland, and directed the 2019 film Booksmart, is now showing an interest in startups and the tech ecosystem.
Arrive, the investment arm of Jay-Z's Roc Nation, has formed Proximity Ventures with Neil Sirney, who previously invested in companies such as Robinhood, Epic Games and SpaceX. This fund focuses more on early-stage projects and has supported four different startups so far.
Proximity Ventures plans to invest an average of $500,000 to $2 million in 8 early-stage startups annually, and intends to raise $100 million in funds for early-stage startups. The fund, which is expected to start raising funds next year, aims to direct 75% of its investments to the US market and the remaining 25% to startups in Southeast Asia.
