Atwater Capital, a media and entertainment-focused funding agency, has attracted funding from funding giants Goldman Sachs Petershill and KKR.
Funding will enhance whole capital commitments for Atwater’s new undertaking Atwater Capital Fund I, LP to greater than $100 million, the corporate introduced on Wednesday (October 5).
Atwater’s portfolio contains an American music firm 88Ascension, a file label, video manufacturing and advertising firm that hosts the Head within the Clouds pageant and represents Asian and Asian American artists. The label is behind a couple of current hits together with Joji’s Overview of us.
Atwater additionally backs Swedish royalty-free soundtrack supplier Its epidemicand wiip Productions, the unbiased studio behind the flagship exhibits Easttown Mare and The summer time after I grew to become fairly.
“That is an especially thrilling time to put money into media and leisure, an asset class that’s acyclical and underpinned by each digitalization and important progress in international demand.”
Vania Schlogel, capital Atwater
LEONINE Studios, Mediawan, GfK, MadRiver Footage and Freepik are additionally a part of Atwater’s present and former portfolio.
The funding firm was based in 2017 by Vania Schlogelwho sits on Epidemic Sound’s board of administrators as a director after serving as president from 2017 till January of this 12 months, when she was profitable by the previous Shazam boss Andrew Fisher.
“That is an especially thrilling time to put money into media and leisure, an asset class that’s acyclical and underpinned by each digitalization and important progress in international demand,” Schlogel mentioned.
“We’re delighted to have the ability to companion with Goldman Sachs Petershill, a acknowledged chief in sponsoring and supporting non-public fairness companies globally, alongside the world-class crew at KKR, as we launch our inaugural fund.We view the anchor commitments of those two premier monetary establishments as sturdy affirmation of the long-term imaginative and prescient we have now for the Atwater platform.
Schlogel is also called the previous Chief Funding Officer of Roc Nation and the CIO of one other firm then owned by Jay-Z, TIDE.
Notably, Schlogel was a former member of KKR’s Non-public Fairness crew, which specialised within the media sector. She was with KKR from 2009 to 2014 and quick ahead to 2022.
“We’re thrilled to speculate with Vania and her crew as they determine and help a bunch of extraordinary entrepreneurs in media and leisure,” mentioned Philipp Freise and Ted Oberwager, KKR Companions.
“It is a continuation of the good relationship we have constructed over a few years working with Vania – since her time at KKR and past.”
Alisa Amarosa Wooden, KKR
Alisa Amarosa Wooden, Associate at KKR, added: “This can be a continuation of the good relationship we have now constructed over a few years working with Vania – since her time at KKR and past. She shares our values, our partnership strategy and we’re actually delighted to speculate alongside her on this new firm.
KKR invested in Atwater alongside Petershill Companions of Goldman Sachs Asset Administration, which participates within the fee revenue of the underlying funds it invests in, in accordance with its web site.
“We’ve got a historical past of partnering with profitable non-public fairness companies globally and are delighted to welcome Atwater as a pure addition to the Goldman Sachs Petershill household,” mentioned Christian von Schimmelmann, co-director of Goldman Sachs Petershill.
“We stay up for offering strategic help as Atwater builds on its historical past of investing in groundbreaking individuals and the companies they function.”The music business around the globe