"Project Phoenix" is seeking to raise at least $10 million in a SAFE financing.MediaMath founder and former CEO Joe Zawadzki is pressing ahead with hisby forming a syndicate of investors that is calling itself"Project Phoenix," according to people familiar with the matter.
Project Phoenix, registered as Phoenix Project Acquisition Inc., is raising the investment with a"post-money valuation cap" of $20 million — the maximum price at which investors can convert their SAFE investment notes into equity.