Comic publisher Archaia Entertainment has raised capital from a group of investors with Chicago ties, according to Crain’s Chicago Business. The group includes attorney Jack Cummins, who owns the Chicago Red Stars in the Women’s Professional Soccer League; New York venture capitalist Allan Grafman, who’s served on the board of Archie Comics and Tribune Company; former Chicago resident Steven Scott, former CEO of American Physicians; and Todd Helmink of Allscripts Misys Healthcare.
Archaia CEO P.J. Bickett explained the planned uses of the raise. “It’s going to allow us to build our digital presence and take steps to develop our own intellectual properties,” he said. The company expects to have sales of $11 million in 2011.