In recent news, a niche type of fund, known as the Soundboard Angel Fund, has been linked to several big names in the entertainment industry, including disgraced producer Harvey Weinstein.
The Soundboard Angel Fund is a relatively unknown investment vehicle that specializes in early-stage investments for startups in the entertainment industry. The fund was founded in 2014 by Michael Dell’Orto, a former music executive, and has since raised $6.5 million.
According to recent reports, Harvey Weinstein was an investor in the fund, contributing $100,000 in 2016. However, it is unclear if Weinstein had any involvement in the investment decisions made by the fund.
Other notable investors in the fund include former CEO of Paramount Pictures Brad Grey and entertainment lawyer John Branca, who has represented high-profile clients such as Michael Jackson and Taylor Swift.
The Soundboard Angel Fund has invested in a variety of entertainment startups, including music streaming platform Tidal and virtual reality content producer Jaunt.
While the fund has flown under the radar for the most part, the link to Harvey Weinstein has brought renewed attention to its activities. Many are questioning the ethics of investing in a fund that was associated with a man who has been accused of multiple instances of sexual assault and harassment.
Dell’Orto, who is also listed as an investor in the fund, has since released a statement denouncing Weinstein’s behavior and stating that he had no knowledge of any alleged wrongdoing by Weinstein at the time of his investment.
Despite the controversy surrounding the connection to Weinstein, the Soundboard Angel Fund continues to operate and make investments in the entertainment industry.
This situation highlights the importance of transparency and due diligence in investment decisions. While investing in a niche fund like the Soundboard Angel Fund may seem attractive, it is crucial to thoroughly research the fund’s investors and their backgrounds before making any financial commitments.
As the entertainment industry continues to evolve and new startups emerge, it is likely that we will see more specialized investment funds like the Soundboard Angel Fund. However, it is important to exercise caution and make informed decisions when it comes to investing in these types of funds.