Vice Media, the Canadian digital venture formed out of Vice Magazine has raised $250 million in debt from investors including George Soros.
The financier’s company is one of a number of investors in the round that has been led by 23 Capital. The Wall Street Journal also reported that Fortress Investment Group LLC and Monroe Capital were also in the consortium.
Established investors include founder Shane Smith (20%), The Walt Disney Company (21%),
A&E Networks (20%) and TPG Capital (44%).
Vice has been looking to increase its capital after being forced to lay off 250 staff in February.
It’s a vote of confidence in chief executive Nancy Dubuc, who took over from Smith a year ago, amid suggestions that a ‘boys club’ had developed around the company.