Milwaukee Bucks co-owner Marc Lasry, the billionaire businessman and hedge fund manager, has led a $35 million, Series C funding round for a of Silicon Valley media and entertainment startup, according to the Silicon Valley Business Journal, a sister publication of the Milwaukee Business Journal.

Ozy Media Inc., which is based in Mountain View, California, produces original content across several digital and media platforms, including news and feature articles, podcasts and television shows, and also produces live events. The company says its audience, across social media, television, podcasts and events, is over 50 million every month.

Former CNN and MSNBC anchor Carlos Watson and Samir Rao, a former Goldman Sachs associate, launched the company in 2013. It was initially backed by Laurene Powell Jobs, the widow of former Apple CEO Steve Jobs.

The company has since raised more than $70 million in venture capital.

Lasry is the chairman, CEO and co-founder of Avenue Capital Group, a global investment firm based in New York, which manages more than $10 billion in assets. Read the full story here.