Hollywood's Jeffrey Katzenberg bets on cybersecurity, avoids digital media as he seeks out startups | MuaneToraya

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Jeffrey Katzenberg, movie producer, astatine the Allen & Company Sun Valley Conference connected July 06, 2022 successful Sun Valley, Idaho.

David A. Grogan |

Media mogul Jeffrey Katzenberg is bullish connected exertion arsenic helium pulls successful much wealth for startup investing. But he's keeping his task portfolio wide of integer media.  

Katzenberg, who 3 years agone had to contend with the the high-profile nonaccomplishment of short-form amusement institution Quibi, has conscionable raised $460 cardinal for concern steadfast WndrCo, which helium started with erstwhile Dropbox concern main Sujay Jaswa. 

WndrCo started arsenic a holding institution successful 2016 with superior from backstage investors. Since then, the steadfast has grown to negociate $1.5 billion, investing successful companies crossed technology, including Dapper, Databricks, Gemini, and Robinhood. The steadfast has besides built retired businesses similar integer extortion companies Aura and Twingate. 

Quibi, which Katzenberg founded successful 2018, unopen down successful 2020, conscionable implicit six months aft launching, contempt having raised $1.75 cardinal from investors including Disney, Comcast's NBCUniversal and AT&T's WarnerMedia. The work counted lone 500,000 subscribers six months aft debuting pursuing a projection it would person much than 7 cardinal subscribers wrong a year.

Katzenberg antecedently was co-founder of DreamWorks and served arsenic seat of Walt Disney Studios.

Now astatine WndrCo, Katzenberg is steering wide of the media market, telling that the large platforms are the winners. Rather, the steadfast is seeking opportunities successful cybersecurity, the aboriginal of enactment and user technology.

Jaswa said the extremity is to find up to 7 task investments and to physique 1 oregon 2 companies each year. Katzenberg joked astir his ain imaginings for the portfolio: "the moon, the stars," helium said. Longer term, helium said helium hopes the companies the steadfast backs crook into "not conscionable a large concern but really made the satellite a amended place."

WndrCo has invested successful low-code level Airtable and payroll and compliance institution Deel.

At Twingate, WndrCo is betting connected a virtual backstage web (VPN) replacement. The institution was founded by a WndrCo spouse and is besides backed by Joe Lonsdale's 8VC. Identity theft extortion institution Pango is different cybersecurity concern backed and built by WndrCo. Jaswa, who serves arsenic seat of Pango, said the crushed for those investments is that truthful overmuch of tech innovation has travel without guardrails.

"All sorts of astonishing things happened," Jaswa said. "And yet the different fractional of it, which is protecting radical online, cipher did thing successful that dimension."

Katzenberg and Jaswa are waiting for guardrails successful artificial intelligence, arsenic well. Katzenberg said there's a terms for technological advancements similar the net and present AI.

"People are anxious about" what the terms volition beryllium with AI, Katzenberg said. "We don't know. So caution seems appropriate."

Still, Jaswa is optimistic.

"Major advances successful exertion are often catalyzed by humans not wanting to bash thing that we person to do," helium said.

Disclosure: NBCUniversal is the genitor institution of .