UTA and Investcorp have established a partnership to invest in emerging companies related to technology and pop culture.
The deal expands ties between the talent agency and the investment firm that previously held an equity stake in UTA. Investcorp exited as owner of UTA in July. The partners will work through the recently established UTA.VC joint venture.
“As content creators and artists recognize the opportunity to monetize their influence in shaping consumer behavior and culture, we believe UTA has a strong pipeline of investment ideas and a clear vision for the future of the Creator Economy. , Web3 and Entertainment where we look. looking forward to working with them,” said Anand Radhakrishnan, director of North American technology partnerships at Investcorp. He will serve as managing director of UTA.VC along with UTA’s Sam Wick and Clinton Foy.
UTA has been active as an investor in technology startups and companies for some time. The company’s previous investments, prior to the launch of UTA.VC, included putting coins into AwesomenessTV, Lyft, MasterClass, Chamberlain Coffee, and Cameo.
“UTA.VC is the next evolution of the UTA venture platform,” said Wick and Foy. “The strategic partnership builds on our previous successful investments in companies including PlutoTV, Radish, ART19 and others, and we are thrilled to have the opportunity to invest and partner with the next generation of companies in this space.”
Late last year, UTA also took steps to invest in gaming-related businesses by launching UTA Acquisition Corp. SPAC with the goal of raising $200 million for acquisitions in the gaming sector. As of October 12, that SPAC has a market capitalization of $288 million.
Source: news.google.com