Louis Bacon’s Moore Capital Management and the publisher of British tabloid the Daily Mail are launching a new venture fund to be led by Moore executive James McIntyre, according to people familiar with the matter.
Renown Capital Partners will invest in early and growth stage private companies focused on the world’s transition to clean energy, the people said.
Moore Capital is providing $200 million of seed funding, while Daily Mail & General Trust Plc will invest an undisclosed amount.
McIntyre, a senior managing director and chief operating officer of Moore Strategic Ventures, is bringing a team of people with him from Bacon’s firm, including executives Hunter Horgan and Cameron Scari.
The Daily Mail has a venture arm focused on consumer businesses and has invested more than £200 million ($253 million) since 2018 in startups including used-car retailer Cazoo Group Ltd., according to the unit’s website.
The Daily Mail also operates a number of energy industry conferences, and Renown can draw on its reach as an international media company, the people said.
The firm expects to start fundraising and investing early next year.
