Russell Simmons Raised A Ton Of Money For His New Company

Russell Simmons' new startup company ALL DEF DIGITAL just got a serious boost in cash flow. Uncle Rush's new content creation brand and network announced that Greycroft Partners, with participation from Advancit Capital, e.ventures and Nu Horizons Investments a venture capital fund jointly established between Russell and Kimora Lee Simmons-Leissner will be receiving funding that totals $5 million.

ALL DEF DIGITAL is already developing original programming in comedy, music, news and poetry through its own YouTube channel as well as runs a music channel called ADD52, in a partnership with Samsung. ADD52 releases one new song a week by emerging artists in various music genres. Simmons is excited about the new partnership.

"Alan Patricoff at Greycroft is one of the most forward looking and savvy investors in early and advanced stage companies, period," said Russell Simmons, co-founder of ADD in a statement. "And Mark Terbeek was one of the first VC's to see the revolution in video coming, having experience in many related investments. Greycroft's vantage point and network of relationships across the media landscape will be tremendously valuable to us as we grow."

Simmons and Greycroft Partners’ Mark Terbeek went on Bloomberg West to discuss their partnership, creating new online content and helping new artists achieve success in the digital realm.

[Bloomberg]