Spin Master Launches $ 100 Million Venture Fund to Kid-Focused Startups
Toronto-based Spin Master Inc. is launching a $ 100 million venture capital fund focused on the company’s child-focused specialties in games, toys and entertainment, and has announced its first two investments.
“The pace of innovation in the toy, entertainment and digital games industries is accelerating rapidly and by investing with a long-term vision in leading companies with promising ideas, we can increase our access to ideas. and potentially revolutionary concepts ”, Spin Chairman of the Board, Ronnen Harary. “Spin Master Ventures will make us the partner of choice for entrepreneurs looking for capital to start and grow a business in the children’s space and will complement our acquisition strategy as well as strengthen our product development pipeline. ”
One of Spin Master Ventures first investments is in Nørdlight, a Swedish mobile game development company whose deeply experienced directors previously led the prototype team at King.com and worked on Candy Crush Saga, among other titles. Spin Master plans to leverage Nørdlight’s investment to help it monetize its own intellectual property in digital games.
The venture capital fund also invested in Hoot Reading, an online tutoring service connecting students with experienced teachers for live and one-on-one reading lessons via a video platform. The Canadian company connects teachers and students across North America with a library of more than 2,000 textbooks.
The initial investment of $ 100 million will focus on Spin Master’s three ‘creative centers’, toys, entertainment and digital games, and will follow medium and long term trends, including emerging technologies, pioneering services and other areas. The first targeted regions are North America and Europe, supporting both new teams and more mature companies that closely match Spin Master’s business priorities.
Spin Master’s licensed and owned brands in games, entertainment and toys include Paw Patrol, Batman, Wizarding World: Harry Potter, Bakugan: Geogan Rising, Gund, Tech Deck, Toca Boca, Sago Mini and Air Hogs.