Social Discovery Group launches $20M venture fund to invest in social discovery startups
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Summary
Social Discovery Group has launched a $20m venture capital fund aimed at social discovery start-ups that are attempting to “transform virtual intimacy into the new normal”.
SDG Lab will invest in AI-communication, VR/AR, and social platforms with the aim of simplifying the start-up journey, and providing legal, marketing and technical support.
Led by Alex Kudos, the former CMO of Social Discovery Group, the company has a network of over 500m users across 60 countries.
Already the fund has invested in platforms including Flure, an “next-generation” dating app, AstroLove, a dating platform which matches users using horoscopes, and Kiseki, which connects singles in Japan with those abroad.