Series Stage Media Investors?
I have a friend that is trying to raise series-style capital for a media company with a bit of a tech bent to it. They asked if I had any familiarity with the space, but my background is much more in late stage investing in a different sector. To that end, I was wondering who the players are in this space. He thinks total capital need is around $100m, but I think realistically they only need $30m - $40m to accomplish what they are trying to do as a starting point. The company has existing revenue but the capital would unlock substantial opportunity for additional growth (including via acquisitions where the tech could unlock incremental value in the acquired companies).
Any sense of the players in the space (or good examples of companies that have raised similar size ranges that could be good case studies)?
Based on the most helpful WSO content, there are several key players in the video game / digital media space that could be of interest. Here are some of the top sellside and buyside players:
Investment Banking: 1. LionTree 2. Raine Aream 3. Morgan Stanley - Media & Communications 4. Barclays - Communications & Media 5. PJT Partners - hired former CSO of Activision Blizzard to LA office 6. Goldman Sachs - video game advisory group within TMT
PE / VC /HF: 1. Insight Partners 2. Griffin Gaming Partners - partnered with LionTree 3. Ashler Capital - video game & internet
These firms have a strong presence in the media and gaming industry and could potentially be interested in a tech-oriented media company. However, it's important to note that the investment landscape is vast and there may be other players that could be a better fit depending on the specifics of the business.
As for examples of companies that have raised similar size ranges, it's a bit tricky without more details. However, the video game industry has seen a lot of investment and M&A activity in recent years, with many startups attracting billions of dollars. This could potentially serve as a good case study.
Remember, it's not just about the amount of capital raised, but also the strategic value that the investor can bring to the table. So, it's crucial to find an investor who not only has the financial capacity but also understands the industry and can provide valuable insights and connections.
Sources: Video Game Investment Banking / PE / VC, Video Game IB/VC/PE, Venture Capital Seizing the Intellectual High Ground, Infrastructure Players
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