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LOS ANGELES – MACRO, a multi-platform media company founded by Charles D. King, announced a successful completion of a minority investment exceeding $90 million. The investment round was led by BlackRock Alternatives through the BlackRock Impact Opportunities Fund, with participation from Goldman Sachs Asset Management and HarbourView Equity Partners. The funds will be allocated to scale operations, diversify revenue streams, and enhance MACRO’s business verticals. King emphasized the company's commitment to increasing representation of people of color in media and entertainment.
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Secured over $90 million in minority investment, enhancing financial backing.
Partnership with BlackRock Alternatives to expand operations and diversify revenue streams.
Established track record of producing award-winning content focused on underrepresented groups.
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LOS ANGELES--(BUSINESS WIRE)--
MACRO, the multi-platform media company, founded by Charles D. King, today announced the completion of an over $90 million minority investment led by BlackRock Alternatives, through the BlackRock Impact Opportunities Fund and funds and accounts managed by BlackRock. HarbourView Equity Partners and funds managed by Goldman Sachs Asset Management also participated in the round, joining the list of MACRO’s investors that also includes Emerson Collective, AMC Networks, Essence Ventures, MNM Creative, Raymond J. McGuire, Anré Williams, Clara Wu and others.
The company plans to use the additional capital to scale and expand operations across its existing business verticals, as well as invest in key organic and inorganic growth initiatives to diversify its revenue streams and reinforce the company’s core lines of business.
“With the global power of a partner like BlackRock Alternatives as well as our new additional investors, we are extremely well-positioned to build on the vast opportunities in the media and entertainment arena, both in the U.S. and abroad. This next phase for MACRO is to extend our reach by fueling each business vertical with the appropriate human and financial resources to unleash the full potential of the MACRO ecosystem. In particular, we will markedly expand our efforts in the development and ownership of IP, strengthen our connectivity with consumers and broaden the range of services provided by our brand vertical and representation partnership,” said Charles D. King, Founder & Chief Executive Officer, MACRO.
“MACRO has an established track record of producing premium, award-winning TV and film content focused on people of color, which has historically been short in supply but high in demand,” saidPam Chan, Chief Investment Officer & Global Head, BlackRock’s Alternative Solutions Group. “We are pleased to make this investment on behalf of our clients, and look forward to partnering with Charles and MACRO’s management team to further the company’s mission of increasing representation of persons of color across its media verticals.”
The BlackRock Impact Opportunities Fund seeks to uncover compelling investment opportunities for its clients by investing in businesses and projects owned, led by or serving people of color, with a particular focus on Black, Latinx and Native American communities in the United States.
“MACRO has a deep understanding for how to shape culture and economically empower the voice and perspectives of Black people and people of color on a global level and is a perfect fit for our vision of the next generation of multiplatform media companies,” saidSherrese Clarke Soares, Chief Executive Officer & Founder, HarbourView Equity Partners. “By introducing new images, ideas and paradigms that reflect the dynamic world in which we live, MACRO is uniquely positioned to bridge the $15 billion+ equity gap in Hollywood by creating culturally authentic and socially relevant content.”
Since launching in 2015, MACRO has strategically built an integrated flywheel that works synergistically at the intersection of content, culture, community and commerce. The company’s business verticals and partnerships include:
MACRO Film Studios – An award-winning studio that develops, finances and produces premium, culture-defining content that authentically portrays the experiences of people of color globally. MACRO has financed and/or produced 18 films to date that have collectively earned 15 Oscar nominations, with three wins—two were for 2021’s Judas and the Black Messiah, the first film with an all-Black producing team nominated for Best Picture. The studio, helmed by James F. Lopez, President of MACRO Film Studios, will continue financing and producing premium, critically-acclaimed content and also widen its aperture to make commercial content, tentpoles and franchises, as well as internationally-themed projects. The company has a multiyear first-look film deal with Amazon Studios. Under the pact, Amazon Studios has a first look on feature film projects that MACRO Film Studios intends to develop, package and produce for release on Prime Video in more than 240 countries and territories worldwide. The company just wrapped production on Freaky Tales, a film written and directed by Captain Marvel helmers Ryan Fleck and Anna Boden, starring Pedro Pascal, Ben Mendelsohn and Jay Ellis. Additionally, releasing this year will be Netflix’s They Cloned Tyrone starring John Boyega, Jamie Foxx and Teyonah Parris.
MACRO Television Studios – A premier television studio dedicated to creating, developing and producing scripted and unscripted episodic projects. The projects have garnered seven Emmy nominations, one Emmy win and one Peabody nomination for Netflix’s Gentefied. The studio will expand its scope of projects across all genres and formats and serve as the preeminent partner to distributors. Shows gearing up for production include Government Cheese, recently greenlit by Apple, starring David Oyelowo. Dear Mama: The Saga of Afeni and Tupac Shakur, the highly anticipated five-part limited series directed by Allen Hughes, will air on FX this spring.
Brand MACRO – An in-house creative agency that ideates and executes branding, marketing and experiential activations for the MACRO ecosystem and the culture. The agency, led by Stacey Walker King, the company’s Chief Brand Officer, counts Fortune 100 companies as its clients. As a sought-after collaborator, partner and builder, Brand MACRO has been tapped to craft marketing and culture campaigns, branded content and immersive experiences for brands and organizations in the entertainment, media, finance and automotive sectors. Future opportunities for the vertical include growth in key areas to service existing clients and expand capabilities in the branded content, production and brand strategy areas.
UNCMMN – A talent, brand management and entertainment strategy firm that focuses on the amplification of creators of underrepresented groups rooted in digital media, will also expand its capabilities in complementary arenas. Stephanie Piza is Co-Founder & Head of Talent at UNCMMN.
In 2020, King teamed with former WME Partner Phillip Sun to launch M88, the company’s joint venture, a full-service talent management firm representing culture-defining A-list artists on a global scale. Sun, Co-Founder, President and Managing Partner, leads M88, with partners Gaby Mena and Oronde Garrett. The firm plans to expand its operations and continue maximizing its multi-hyphenate clients’ growth potential across all of their creative and commercial endeavors.
King and Bobby Singh, Executive Vice President, Strategy & Operations at MACRO, led the raise on behalf of MACRO. Moelis & Company, LLC, led by Managing Directors Carlos Jimenez and Angus Whelchel, acted as exclusive financial advisor and exclusive placement agent for MACRO. Latham & Watkins LLP, led by Ken Deutsch, Global Co-Chair of the Entertainment, Sports and Media Practice, represented MACRO as legal counsel, alongside Corey N. Martin, Managing Partner and Chair of the Entertainment Finance Practice at Granderson Des Rochers, LLP, the largest Black-owned entertainment law firm in the U.S.
The Raine Group acted as exclusive financial advisor and Ropes & Gray LLP acted as legal advisor to BlackRock Alternatives. HarbourView Equity Partners was represented by Sidley Austin LLP.
About MACRO
Launched in 2015 by Founder & CEO Charles D. King, MACRO is a multi-platform media company representing the voice and perspectives of people of color. The company’s multiple content studios include MACRO Film Studios, MACRO Television Studios and MACRO Digital Studios. MACRO Film Studios co-financed the critically acclaimed Judas and the Black Messiah, Mudbound, Fences, Roman J. Israel, Esq., Just Mercy, Sorry to Bother You, Nine Days, Farewell Amor, Blast Beat, The Land and Blue Bayou. The film studio has amassed fifteen Oscar nominations and three wins. MACRO Television Studios has two critically-acclaimed Netflix series—Emmy Award nominated Raising Dion and the Peabody Award nominated Gentefied. The company also houses Brand MACRO, an in-house branding and creative agency and UNCMMN, the company's wholly owned talent, brand management and entertainment strategy firm. In addition, the company has a majority interest in M88, a full-service talent management firm focused on people of color and an affiliated venture firm, MaC Venture Capital. Home Page ● Twitter ● LinkedIn ● Instagram ● Facebook
About BlackRock Alternatives
BlackRock Alternatives serves investors seeking outperformance in infrastructure, private equity, credit, real estate, hedge funds and multi-alternatives. We strive to bring our investors the highest quality investments by drawing upon our global footprint, superior execution capabilities and position as a preferred partner. BlackRock manages $318 billion in alternative investments and commitments on behalf of clients worldwide as of December 31, 2022.
About Goldman Sachs Asset Management
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2.5 trillion in assets under supervision worldwide as of December 31, 2022. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Follow us on LinkedIn.
About HarbourView Equity Partners HarbourView is a global investment firm focused on niche markets and esoteric investment opportunities that aim to build enduring value and returns. The company is headquartered in Newark, NJ. Home Page ● Twitter ● LinkedIn ● Instagram ● Facebook
