MACRO has reached a significant benchmark in developing the multiethnic market.
According to a press release provided to AfroTech, the multi-platform media company founded by Charles D. To further its expansion, King has successfully raised $90 million in a strategic funding round.
A press release explained that BlackRock Alternatives led the minority investment through the BlackRock Impact Opportunities Fund and other BlackRock-managed funds and accounts. Harbourview Equity Partners and Goldman Sachs Asset Management contributed to the investor pool.
Funding MACRO Got
MACRO has received funding from a diverse group of companies and individuals, including Emerson Collective, AMC Networks, Essence Ventures, MNM Creative, Raymond J. McGuire, Anré Williams, Clara Wu, and others.
The $90 million minority investment will be used to grow MACRO’s business across all of its verticals and launch new initiatives to generate revenue.
The Full Potential Of MACRO
King said in a press release that the company is “extremely well-positioned to build on the vast opportunities in the media and entertainment arena, both in the U.S. and internationally” thanks to the backing of BlackRock Alternatives and the new investors.
In order to fully realize the potential of the MACRO ecosystem, the next step is to expand our operations and provide each industry with the necessary human and financial resources.
To be more specific, we plan to significantly increase our efforts in intellectual property (IP) creation and ownership, consumer connectivity, and the breadth of services offered through our brand vertical and representation partnership.
“MACRO has a proven track record of producing premium, award-winning TV and film content focused on people of color,” said Pam Chan, Chief Investment Officer & Global Head, of BlackRock’s Alternative Solutions Group.
We are excited to make this investment on behalf of our clients and to work with Charles and the rest of MACRO’s management team to advance the company’s goal of increasing the visibility of people of color in all of its media platforms.
The MACRO Film Studios, MACRO Television Studios, Brand MACRO, and UNCMMN are just some of the company’s business divisions and alliances.
Oscar-nominated films like “Judas and the Black Messiah,” “Mudbound,” and “Fences” all received partial funding from MACRO Film Studios.
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