The Guardian has decided that it wants to invest in startups that create media technology through a £42m venture capital fund.

The fund, called GMG Ventures, is aimed at investing in early stage businesses that relate to media tech in order to help the Guardian keep up with and advance disruption within the space.

GMG Ventures will look into investment in areas such as AI and machine learning for journalism, advertising tech, tech to enhance reader experiences, payment tech, VR, AR and mixed reality, and more.

“In a rapidly changing media landscape, GMG Ventures will be an essential addition to the experience, skills and qualities of the Guardian, giving us access to the new ideas and innovation that entrepreneurs bring to the table,” said David Pemsel, chief executive of Guardian Media Group (GMG) and GMG Ventures chairman. “GMG Ventures will aim to secure investments in some of the very best new businesses emerging out of the media and tech space in the UK, US and Continental Europe.”

The Guardian has an existing investment in startup incubator Founders Factory. This investment will now be managed by GMG Ventures.

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