Former YouTube exec unveils Next 10 Ventures, a $50M fund to back online creators – TechCrunch
Subsequent 10 Ventures is a brand new agency that’s raised $50 million to put money into new digital content material, and likewise in new instruments and companies for the creators of that content material.
The agency was based by Benjamin Grubbs, beforehand international director of high creator partnerships at YouTube, who additionally serves as Subsequent 10’s CEO. He’s joined by COO Paul Condolora, who was previously co-head of the Harry Potter franchise at Warner Bros., and who was additionally in control of digital and client merchandise at Cartoon Community and Grownup Swim.
Grubbs advised me the agency’s title refers to supporting the following 10 years of a creator’s profession, and that it emerges from conversations he’d been having with profitable on-line creators.
“They ask, ‘How do I take this to the following stage?’” Grubbs stated. “‘I actually get pleasure from what I’m doing, how do I construct a profession out of this?’”
He added that he’s seeking to work with a “diversified mixture of creators” — they don’t essentially have to have an enormous following already, however they need to have demonstrated that they’ll produce compelling movies and they need to be “actually attempting to make a long-term profession on this area.”
It feels like Subsequent 10’s investments can be structured in quite a few other ways. In some instances they’ll appear to be a standard seed-stage startup funding. In others, the agency will fund its personal services. And in nonetheless others, it will likely be funding content material and partnering with creators.
The agency says it’s centered on three broad areas: video content material and IP creation, e-commerce and community-based services. And there can be a fund centered particularly on creators of academic content material.
The truth is, Grubbs stated one of many huge alternatives is bringing extra academic content material to Asia. He stated that because the younger folks in international locations like Indonesia and the Philippines transfer on-line, “schooling content material is missing on the provision facet.”
“What we wish to do is not only look ahead to this market to develop up and graduate, however really … be an lively participant,” he stated. “The mission of the corporate is de facto to counterpoint and encourage and entertain — and form of in that order.”
Supply hyperlink – https://techcrunch.com/2018/05/16/next-10-ventures/