Exclusive: New York’s next seed fund

September 20, 2011, 4:39 PM UTC

Bob Pittman’s right-hand man goes out on his own.

New York City is about to get (yet) another seed-stage venture fund, Fortune has learned.

It’s called Trigger Media Group and is run by Andy Russell, a co-founding partner of Bob Pittman’s Pilot Group. His colleagues so far seem to be a handful of McKinsey alumni, including Vanessa Liu and Jonathan Keidan.

A source familiar with Trigger says that it has raised $23 million for its debut vehicle, which will focus on the digital media space. Russell said that figure was “basically” accurate during a brief phone conversation last night, but added that he did not want to discuss Trigger further until it has made its first investment.

Russell also seems to maintain some sort of formal affiliation with Pilot Group, where he had worked for over eight years. His portfolio companies included Thrillist, Idealbite, DailyCandy and Zynga.

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