UTA and Investcorp have formed a partnership to invest in emerging projects related to technology and pop culture.
The deal expands the relationship between the talent agency and the investment firm that previously held a stake in UTA. Investcorp exited its position as UTA owner in July. The partners will work through the newly created joint venture UTA.VC.
“As content creators and entertainment professionals recognize the opportunity to monetize their influence in shaping consumer behavior and culture, we believe UTA has a strong set of investment ideas and a clear vision for the future of the Creator, Web3 and entertainment economy that we’re looking at,” said Anand Radhakrishnan, President of Technology Partnerships for America. North at Investcorp: “We look forward to working with them.” He will serve as Managing Director of UTA.VC alongside UTA’s Sam Wake and Clinton Foy.
UTA has been active as an investor in start-ups and tech projects for some time. The company’s previous investments, prior to the launch of UTA.VC, included placing coins in AwesomenessTV, Lyft, MasterClass, Chamberlain Coffee, and Cameo.
“UTA.VC is the next evolution of the project’s UTA platform,” Wick and Foy said. “The strategic partnership builds on our previous successful investments in companies – such as PlutoTV, Radish, ART19 and others – and we are pleased to have the opportunity to invest and partner with the next generation of companies in this space.”
[ad_2]
