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ISSUE – Nov. 19 | Ex-Time Warner execs launch venture capital firm

Rachel Lam (ex-Time Warner Investments) and Dick Parsons (ex-CEO of Timer Warner) have teamed up to form venture firm Imagination Capital, which will focus on institutional seed deals for startups in the digital media, e-sports and big data sectors. Key differentiator: The capital will come equally from Lam and Parsons, rather than via outside limited partners. “Dick didn’t want to be a fiduciary,” Lam explains. Plans are to invest between $250k-$500k in at least a couple dozen companies. Imagination isn’treferencing a “fund size” because Imagination is in discussions to possibly add a third partner who would contribute his or her own capital (no, it’s not Jeff Bewkes). [ Axios ]

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