FINSMES – Oct 14 – Dating Group, a Malta-based social discovery platform, which operates several online dating brands, raised a $50M fund earlier this year. Dating Group CVC Fund Managing Partner Bill Alena answered questions about its mission and future plans.
Q: What's your background?
A: I've been in the dating and social space for 14 years. Previous to joining Dating Group I was the CRO of The Meet Group for 11 years.
Q: What's the mission behind the fund?
A: It has multiple missions. We want to help the industry grow. We also believe we can be so much more to companies than just the money. Lastly, we want to invest in companies that might be interesting for us to fully acquire in the future.
Q: How does Dating Group CVC fund differentiate from other VC funds investing in dating projects?
A: As a company that already owns over 15 brands in the dating space, we know what we're doing. We hope to offer more than just an investment but access to numerous resources.
Q: What does a startup need for you to invest?
A: We have to believe in that entrepreneur and the team. We are looking for passion and ideally a past history of success. A quality product and vision is vital.
Q: How many companies have you already invested in?
A: We just began the fund in March. To date we've only made two investments.
Q: Why does this industry attract you and keeps you engaged?
A: It's always changing. There's always something new and exciting on the horizon.
Q: How positive are you for the future of the online dating industry?
A: There is a universal need to find love and I expect the industry to continue to grow. I think the pandemic helped us evolve faster than we might have with things like video.
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