This New Yorker article by Alec Wilkinson on Anne Marie Gardner, founder and editor of 'Modern Farmer' magazine, is fascinating on two levels.
The first is her description of the publication as 'less a magazine than an emblem of “an international life-style brand"' - a device that pulls together a bunch of similar niche audiences she refers to as 'rurbanistas'.
The second is the detail Wilkinson got around Gardner's battle with VC funder Frank Giustra for a second capital injection six issues into the magazine's (money-losing) life.
I haven't heard of a VC-backed publication in New Zealand (though I'm happy to be better informed). I occasionally daydream of what a new visual arts periodical might look like - this article is a solid reminder that dreams are free but staff, printing and distribution really aren't.