Fertitta Capital launched its first fund on Monday, worth $500 million, which it plans to invest in technology, media, and entertainment companies.
The West Hollywood firm’s $500 million pot came from brothers Frank and Lorenzo Fertitta, who sold Ultimate Fighting Championship to WME-IMG, Silver Lake Partners, and KKR last year for $4 billion. The brothers are estimated to have each earned $2 billion from the sale, according to Forbes.
Fertitta Capital plans to focus initially on making investments between $20 and $75 million.
Nakisa Bidarian has been named the investment company’s chief executive and will be responsible for the deployment of capital. Bidarian previously served as chief financial officer at UFC.
Technology reporter Garrett Reim can be reached at email@example.com. Follow him on Twitter @garrettreim for the latest in L.A. tech news.