Spin Master has launched Spin Master Ventures, a new arm of the business focused on accelerating growth through strategic minority investments.
SMV’s investment mandate will be centred on medium and long-term trends, including emerging technologies, pioneering services and other areas where Spin Master’s offering can be strengthened.
To launch the initiative, SMV has made minority investments in two companies: Nørdlight, a mobile game development company based in Stockholm, and Hoot Reading, an online tutoring service that provides children with live one-to-one reading lessons with experienced teachers.
“We’ve always stayed true to our entrepreneurial DNA based on innovation, openness to ideas, partnerships and pushing boundaries,” said Ronnen Harary, Spin Master’s Co-Founder and Board Chair.
“The pace of innovation within the toys, entertainment and digital games industries is accelerating rapidly and by investing with a long-term view in leading ventures with promising ideas, we can increase our access to potentially game-changing thinking and concepts.
“Spin Master Ventures will establish us as the partner of choice for entrepreneurs looking for capital to start and grow a business in the kids’ space and will complement our acquisition strategy as well as bolster our product development pipeline.”
Spin Master will initially allocate $100 million to SMV, funded from existing internal resources and its geographic focus will be global.
“Establishing Spin Master Ventures enables Spin Master to work with extraordinary companies and teams, providing them with capital and access to our deep knowledge and expertise to drive their ideas and businesses forward,” added Anton Rabie, Spin Master’s Co-Founder and Director.
“Spin Master Ventures aims to become the ultimate partnership generator, a tool for widening the company’s networks, knowledge and relationships. By partnering with these entrepreneurs, we can bolster our leadership position within the children’s entertainment industry.”
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