Ocean Group, a massive private holding company founded by entrepreneurs Timur Sardarov and Oliver Ripley, has announced the creation of – and a $100 million investment commitment in – a new digital media and technology subsidiary called Black Ocean.
Sardarov and Ripley will spearhead Black Ocean’s investments in video, social, mobile, and e-commerce technologies.
The new subsidiary’s core business will comprise both a strategic holding division for the management of its portfolio companies (in which it usually holds a majority stake) and a business incubator that will offer “everything from capital to structural expertise to back office support” to entrepreneurs.
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