Silicon Valley Firms Align with WMA, AT&T For Fund

LOS ANGELES, March 3: Silicon
Valley venture capital firms Accel Partners and Venrock are teaming with the
William Morris Agency and AT&T to create a new investment vehicle to
support digital media innovators in Southern California.

Accel, William Morris
Agency and Venrock will form a joint fund that will focus on discovering,
funding and building small, high-impact companies focused on innovation in the
consumer-media technology arena. AT&T will participate in selected
investment opportunities with the joint fund as a limited participant.

The fund will be managed
by investor Richard Wolpert, who has previously served as president of Disney
Online and chief strategy officer of RealNetworks.

—By Mansha Daswani