New York City's seed-stage venture capital fund, Betaworks, has created another endeavor, Betaworks Studios, which has garnered support from The We Company (formerly known as WeWork), the coworking giant based out of the US, which has spread across the globe.
JLL Spark led a $4.4 million investment in the membership-based co-working club described as a supportive community for builders, with participation from the co-working giant, Betaworks Ventures and BBG Ventures. Betaworks Studios has previously raised a pre-seed round led by BBG.
Launched in 2018, Betaworks Studios offers entrepreneurs, artists, engineers and creatives a place to work on projects and accumulate a network, similar to a WeWork hub.
In separate news, Betaworks Ventures filed to raise a $75 million sophomore fund.
Founded in 2008 by John Borthwick, Betaworks operates an investment fund, an accelerator and builds companies internally with spin-outs, including Giphy, Digg and Bit.ly. The idea for Betaworks Studios was to expand its resources and network to the greater entrepreneurial community.
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