Studio City-based Seismic Capital Group is launching its investment efforts with an initial capital deployment of $100 million. The company’s first investment will provide $10 million of funding to online media networking company Game Cloud Network Inc., which provides brands with infrastructure to advertise and engage with users inside of video games.
“Right now, most advertising is going into television, streaming and social media,” Seismic president and chief investment officer Eric White said. “But moving into the future and the growth of the gaming world, there’s going to be a tremendous amount of advertising being done within the gaming world … and they’re going to be a leading player in that. So that’s one of the main reasons we decided to invest GCN as our first company.”
Seismic was founded in 2020 by White with Alice Neuhauser, Yann Geron and Steve Weinstein, the latter of whom is now its chief executive officer. As a diversified holding company, Seismic is focused on early-stage technology companies. It has spent the last few years getting up and running, and a spokesperson said that the launch was a carefully thought-out process given the company’s “unique structure” as a holding company rather than a traditional venture capital firm.
White said Seismic would invest in about 10 companies total with the $100 million.