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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

28 mins ago - World

Taliban: Executions and strict punishments will return

Taliban fighters in Kabul. Photo: Oliver Weiken/picture alliance via Getty Images

Strict punishments such as hand amputations and executions will return in Afghanistan, one of the Taliban's founders said in an interview with the Associated Press.

Why it matters: Despite attempting to project a new image, the Taliban remain committed to a hard-line, conservative ideology, including harsh ruling tactics.

Felix Salmon, author of Capital
2 hours ago - Economy & Business

Investors pour millions into immersive, interactive art experiences

Photo Illustration: Megan Robinson/Axios. Photo: Martin Bureau/AFP via Getty Images

How much would you pay for "a sleek, if pleasantly confusing, package of moods" or "a confusing tangle of disjointed installations" or even "the total erosion of meaning itself"? The answer, according to the current market-clearing price, seems to be about $35.

Why it matters: Investors are pouring hundreds of millions of dollars into ticketed experiences — immersive, interactive museum-like spaces that don't have the d0-not-touch stuffiness of traditional museums.

Special envoy for Haiti resigns over Biden deportations

Daniel Foote testifies during a Senate Foreign Relations Committee hearing on May 26, 2016. Photo: Drew Angerer/Getty Images

The special envoy for Haiti on Wednesday resigned from his position, writing in his resignation letter obtained by PBS that he "will not be associated with the United States inhumane, counterproductive decision to deport thousands of Haitian refugees."

Why it matters: Ambassador Daniel Foote's resignation comes amid heightened anger over the treatment of Haitian migrants and asylum-seekers living in a temporary encampment in Del Rio, Texas — especially after images surfaced of Border Patrol agents whipping at the migrants from horseback.