B. Riley Financial, Inc. (NASDAQ: RILY), a business advisory and financial services company, is launching a new line of business, B. Riley Venture Capital.
A subsidiary of B. Riley, the new division will be headed by Todd D. Sims, who stepped down from B. Riley Financial’s board of directors to take this position.
Supported by B. Riley’s balance sheet and syndication platform, B. Riley Venture Capital will pursue investments in late-stage growth companies with a path toward public markets. The venture capital business will benefit from B. Riley’s investment banking, capital markets and advisory businesses, with syndication opportunities across the company’s institutional, banking and retail client base.
Todd D. Sims has served as a member of the company’s Board since October 2016. A board replacement has not yet been named. Since August 2018, Mr. Sims also sits on the board of directors of TheMaven, Inc. as a designee of B. Riley Financial, Inc. Mr. Sims has served as Senior Vice President of Digital Strategy of Anschutz Entertainment Group, Inc., one of the leading sports and entertainment presenters in the world, overseeing business and corporate development for its ticketing business, AXS. Prior to that, Mr. Sims spent more than 15 years building Internet businesses. In the mid 1990’s, he served as ESPN’s executive producer of NFL.com, NBA.com and NASCAR Online. He also served on the management team of eCompanies, LLC, an incubator which has incubated a number of companies including Jamdat Mobile Inc. (acquired by Electronic Arts Inc.), Business.com Inc. (acquired by R.H. Donnelley Corp.) and Boingo Wireless, Inc. (initial public offering).
B. Riley Financial is a provider of collaborative financial services solutions tailored to fit the capital raising, business, operational, and financial advisory needs of its clients and partners. The company operates through several subsidiaries that offer a diverse range of complementary end-to-end capabilities spanning investment banking and institutional brokerage, private wealth and investment management, corporate advisory, restructuring, due diligence, forensic accounting and litigation support, appraisal and valuation, and auction and liquidation services.
FinSMEs
08/10/2020