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A handful of venture capitalists have participated in the seed round for The Juggernaut, a premium subscription publication for South Asian stories and news, Axios has learned.

Why it matters: It's the latest in a series of investments from venture capitalists and Hollywood giants in South Asian storylines and talent.

Driving the news: Precursor Ventures, Kevin Lin (co-founder of Twitch), Bhaskar Ghosh (partner and CTO at 8VC), and Sheel Tyle (founder, Amplo), among others, will join Y Combinator in investing in the startup led by Snigdha Sur.

Details: The company started as a newsletter in October 2017 and launched a $4.99-per-month paid subscription service in February. Sur says 80% of users sign up for an annual plan.

  • Its free newsletter has open rates of about 30-60%, says Sur. (The average rate for publishing is usually around 20%.)
  • Sur says the conversion rate from the free newsletter to the paid subscription has so far been about 6%.

The trend: Media companies in the U.S. are looking to better cover the South Asian population. This year...

  • Mindy Kaling and Priyanka Chopra inked a deal with Universal for a wedding film.
  • Netflix green-lighted a semi-autobiographical coming-of-age comedy series with Kaling starring.
  • HBO is developing "Attachment," a comedy series that centers on a first-generation Indian-American tech CEO.
"The South Asia diaspora is so large. I can't believe this audience doesn't have publication or voice in way they want to to be spoken to covering stories matter to them."
Charles Hudson, managing partner, Precursor Ventures

Go deeper: Where America's diversity is increasing the fastest

Go deeper

Updated 5 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: How data and the pandemic have democratized the "high-performance lifestyle — "Twindemic" averted as flu reports plummet amid coronavirus crisis
  2. Vaccine: Pfizer begins study on 3rd vaccine dose as booster shot against new strains — Republicans are least likely to want the coronavirus vaccine
  3. U.S. news: California surpasses 50,000 deaths COVID-19 deaths, more than any other state — Jimmy and Rosalynn Carter return to church after receiving COVID-19 vaccines
  4. Local: Public transit ridership in Twin Cities dropped 53% amid pandemic — Data firm predicts "complete chaos" in next phases of Florida's vaccine rolloutAlaska Gov. Mike Dunleavy tests positive for the coronavirus

Acting Capitol Police chief: Phone logs show Jan. 6 National Guard approval was delayed

Pittman at a congressional tribute for fallen officer Brian Sicknick. Photo: Erin Schaff-Pool/Getty Images

Acting U.S. Capitol Police chief Yogananda Pittman testified on Thursday that cellphone records show former USCP chief Steven Sund requested National Guard support from the House sergeant-at-arms as early as 12:58pm on Jan. 6, but he did not receive approval until over an hour later.

Why it matters: Sund and former House sergeant-at-arms Paul Irving clashed at a Senate hearing on Tuesday over a dispute in the timeline for when Capitol Police requested the National Guard during the Capitol insurrection.

Manhattan prosecutors reportedly obtain millions of pages of Trump's tax records

Photo: Al Drago/Bloomberg via Getty Images

The Manhattan district attorney is now in possession of millions of pages of former President Trump's tax and financial records, CNN first reported, following a Supreme Court ruling that allowed prosecutors to enforce a subpoena after a lengthy legal battle.

Why it matters: Trump fought for years to keep his tax returns out of the public eye and away from prosecutors in New York, who are examining his business in a criminal investigation that was first sparked by hush-money payments made by Trump's former fixer Michael Cohen during the 2016 election.