Jeffrey Katzenberg on the Long, Steep Road to Raising a VC Fund

Hollywood veteran Jeffrey Katzenberg has raised $460 million for his investment firm WndrCo’s first set of dedicated venture capital funds, including a $60 million seed fund. The new fund stands out in a tepid year for VC fundraising—and shows Katzenberg’s name has plenty of pull with investors. That’s despite the collapse of Quibi, the short-form video app he co-founded, four years ago.

Katzenberg said attention around the high-profile failure has faded. “By definition, if it’s a moonshot, they’re not all going to work. And that certainly was an ambitious one.” Still, “it was in a very challenging fundraising cycle that we found ourselves in,” Katzenberg said. “The road was longer and steeper.”