Jeffrey Katzenberg, a prominent figure in Hollywood, is placing his bets on cybersecurity instead of digital media as he looks for promising startups.

• Hollywood mogul Jeffrey Katzenberg raised $460 million for his investment firm WndrCo.
• Cybersecurity, consumer technology, and the future of work are the main areas of focus for Katzenberg and his team.
• The DreamWorks co-founder is passing on opportunities in entertainment, but he believes that AI will be transformative for the media landscape.

Jeffrey Katzenberg, a media mogul, is optimistic about technology and is investing more money in startups. However, he is avoiding digital media in his venture portfolio.

Katzenberg, who faced the failure of short-form entertainment company Quibi three years ago, has now raised $460 million for investment firm WndrCo, which he founded with former finance chief Sujay Jaswa.

In 2016, WndrCo was established as a holding company with funding from private investors. Since then, the company has expanded to manage $1.5 billion and invests in technology companies such as Dapper, Databricks, Gemini, and others. Additionally, WndrCo has developed businesses like Aura and Twingate in the digital protection sector.

Despite raising $1.75 billion from investors and projecting to have more than 7 million subscribers within a year, Quibi, founded by Katzenberg in 2018, shut down just over six months after launching, with only 500,000 subscribers.

Previously, Katzenberg was both a co-founder of DreamWorks and the chair of Walt Disney Studios.

Katzenberg is avoiding the media market at WndrCo and focusing on cybersecurity, the future of work, and consumer technology.

Jaswa aims to secure up to seven venture investments and establish one or two companies annually. Long-term, Katzenberg hopes that the companies the firm supports will not only be successful investments but also contribute to making the world a better place.

WndrCo has invested in low-code platform Airtable and payroll and compliance company Deel.

WndrCo is investing in a virtual private network (VPN) replacement at Twingate, which was founded by a WndrCo partner and backed by Joe Lonsdale's 8VC. Additionally, WndrCo has built and backed an identity theft protection company, Pango, with Jaswa serving as its chair. The reason for these investments, according to Jaswa, is that much of tech innovation has occurred without proper guardrails.

"Jaswa stated, "Astonishing events transpired, yet the other half, safeguarding individuals online, remained unaddressed.""

Jaswa and Katzenberg are also anticipating regulations in the field of artificial intelligence, as the internet has already brought about significant technological advancements. According to Katzenberg, there is a cost associated with these advancements.

"Katzenberg said that people are anxious about the price of AI, but we don't know what it will be, so caution is necessary."

Still, Jaswa is optimistic.

He stated that major technological advancements are frequently driven by humans' desire to avoid tasks that are obligatory.

Disclosure: NBCUniversal is the parent company of CNBC.