Hollywood Interactive Group, Inc. has closed a $5 million Series A equity round of capital led by BlueRun Ventures of Menlo Park. This funding will be used to develop the company’s slate of multiplatform content initiatives. The first signature project is MyHollywood.com – a women’s web destination for celebrity and entertainment news, casual games, fashion and community. The site is currently in public beta.

MyHollywood specifically targets the fastest growing segment of internet users – women 18-34 who enjoy casual gaming. The site appeals to women who crave the excitement and thrill of playing a game that gives them a more tangible connection to Hollywood than the tabloids and television shows they currently enjoy.

“Hollywood Interactive Group is a great complement to our Media and Internet portfolio.” said Jonathan Ebinger, Partner of BlueRun Ventures.

Hollywood Interactive Group will generate revenue through multiple streams including: Virtual item and premium package sales; pre-paid cards; premium brand placement/integration; traditional IAB ad units and pre-roll video; and revenue shares. Strategic partnerships will drive e-commerce, branded promotions, product placement, user engagement and retention campaigns.

The company will roll out features monthly beginning with news, mini-games and avatar design tools until the fully immersive Hollywood-based virtual world experience is available, slated for early 2009.