New Renaissance Ventures is the first Venture Capital Fund dedicated to the Cultural and Creative Industries (CCI). The sector which is fundamental to the European identity and economy, is seeing a transformative shift due to the imminent mass adoption of emerging technologies like AI, XR or blockchain, representing ample opportunity to back the next Spotify, Unity or Figma.
We all have a few things that truly move us, don't we? In our rapidly changing world, it's our cultural values, heritage, and artistic expressions that endure. They fuel our passions, spark our creativity, and simply push us to be better. The Cultural and Creative Industries are at the heart and soul of our European society.
However, the Cultural and Creative Industries not only play a pivotal role in shaping our collective European identity but also significantly contribute to the economy. Just to put this in perspective, CCIs are bigger than pharma or telco, and represent 5.5% of the overall EU economy. And with over 200 art universities & colleges, Europe has by far the largest number of top talent globally.
What society has not been really aware of, though, is the fact that technological progress always served as a very powerful catalyst in the Cultural and Creative Industries. Tech is constantly changing how we create, access, experience and think about culture. You can go back in the history of humanity or take a few hundred years.
A prominent example is the invention of photography in the 19th century, which profoundly altered the cultural landscape. Prior to its advent, visual representation of people, places, and events was predominantly the realm of paintings and drawings, which not only required considerable skills but also often contained the subjective interpretations of the artist. Photography introduced a new form of realism and authenticity in capturing moments, offering a more democratic and objective medium. The technology democratised art, making it accessible to the masses and it also played a crucial role in the fields of journalism, education, and science, providing a powerful tool for observation and communication. The ability to capture a moment in time exactly as it appeared had far-reaching implications on society's understanding of itself and the world, influencing art, culture, social norms, and the collective consciousness.
Once again, we stand on the brink of a new wave of innovation in the Cultural and Creative Industries. The mass adoption of emerging technologies like AI, XR or blockchain are changing once again how we create, access, experience and think about culture. The tech has now reached a level of maturity which suddenly makes it a central part of our daily lives. The ability of AI to learn on the fly and boost our own creative juices is opening doors to new, never-before-seen ways. This obviously goes in both ways, assisting us in creative processes but also creating art on its own. And so will XR and blockchain technologies fundamentally redefine how we access, consume, create, share and monetise content in a digital world.
New Renaissance Ventures is the first dedicated micro fund for the Cultural and Creative Industries. We are partnering with the most ambitious tech founders in the Visual Arts, Performing Arts, New Media and Cultural Heritage. With all its sub-categories spanning from fine arts, design, music, publishing and gaming to fashion & collectibles to name a few. We are generalistic specialists, building a home for the creative class.
New Renaissance Ventures primarily focuses on technology-driven startups and business models within the blue circles. However, it is not uncommon for these startups to also venture into adjacent categories, as represented by the grey circle above.
Our investment strategy is simple:
We build on many years of experience in the industry and act fast and efficiently. We provide raw, genuine and independent insights, knowing the VC-playbook, but playing the angel investors game. We are based in Vienna, but spend time in all local ecosystems as much as we can.