Technology Crossover Ventures and A+E Networks have each agreed to invest $250 million for reported 10% stakes in Vice Media, a global media channel that focuses on investigative journalism. The deal is rumored to give the company a valuation of over $2.5 billion. It's not the first time Vice has received backing from institutional investors, as The Raine Group funded it in 2011. Known for its wide-ranging span of topics and popular video channel, Vice recently garnered acclaim for a series examining the Islamic State and a piece focused on North Korea for HBO. Reportedly, its content reaches more than 150 million people per month; Vice will use the investment to expand content development across more platforms.