‘Next 10 Ventures’, a vertically integrated operating fund focusing on content creators, has said it had secured US $50 million in finance. The venture fund will use it to develop new businesses & technology services centered around the Creator economy that has emerged in the past decade from the mass adoption of digital video & social media platforms, it said in a press statement.
Benjamin Grubbs, Founder & Chief Executive Officer of Next 10 Ventures, has worked closely with Creators as the Global Director of Top Creator Partnerships at YouTube and in other leadership roles at Google, Turner Broadcasting, eBay and Yahoo!. He is joined by Paul Condolora as the company’s Chief Operating Officer. Condolora led digital and consumer products at Cartoon Network & Adult Swim, & was the co-head of the Harry Potter franchise at Warner Bros. prior to joining Next 10 Ventures.
Grubbs said in the statement, “We forecast the global creator economy excluding China to reach $23 billion this year, driven by tens of thousands of creators who make a living on digital video and social platforms. This scale affords our company ample opportunity to build assets that produce meaningful value in the years ahead.”
Next 10 Ventures’ stated mission is “to enrich, inspire & entertain its core audience of kids & young adults.” The company was incorporated in March 2018, with offices in Los Angeles & Singapore.
The company will pursue partnerships & opportunities in video Content & IP creation, eCommerce, & community-based products & services. Each venture’s investment size will match seed capital to early-round levels, & will vary based on the business opportunity. One of the upcoming ventures will be a video Content fund focused on education Creators.
Image Credit: Next 10 Ventures
