Announcing Next 10 Ventures, a $50M operating fund for the creator economy
May 16, 2018
LOS ANGELES, CA & SINGAPORE
Next 10 Ventures, the first vertically integrated operating fund focusing on content creators, announces it has secured US$50 million in financing. The company will start deploying its capital and management expertise to develop new businesses and technology services centered around the Creator economy that has emerged in the past decade from the mass adoption of digital video and social media platforms. Benjamin Grubbs is the Founder & Chief Executive Officer of Next 10 Ventures.
Mr. Grubbs 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!. Mr. Grubbs is joined by Paul Condolora as the company’s Chief Operating Officer. Mr. Condolora led digital and consumer products at Cartoon Network and Adult Swim, and was the co-head of the Harry Potter franchise at Warner Bros. prior to joining Next 10 Ventures.
“Over the past five years, I have seen firsthand the immense growth of the Creator economy in terms of reach, consumer engagement, and commercialization,” said Mr. Grubbs. “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’ mission is to enrich, inspire and entertain its core audience of kids and young adults. The company will pursue partnerships and opportunities in video content and IP creation, eCommerce, and community-based products and services. Each venture’s investment size will match seed capital to early-round levels, and will vary based on the business opportunity. One of the upcoming ventures will be a video content fund focused on education Creators.
“I have been fortunate to work with creative entrepreneurs for more than a decade. Next 10 Ventures is the culmination of numerous discussions with creators on their desire to partner with a company that offers financing, industry expertise and a path forward to realizing their goals,” said Mr. Grubbs.
© 2018 Next 10 Ventures, Inc.