Charles King’s multicultural-focused content shop Macro has raised a funding round led by Emerson Collective, the investment firm run by Steve Job’s widow Laurene Powell Jobs.
In addition to Emerson, the round also included MNM Creative, Medialink, Citigroup’s Global Head of Corporate Investing and Banking Raymond McGuire, entrepreneur Justin Yoshimura and West L.A. Caltius Capital Managing Partner Michael Kane. The round was closed earlier this summer, but only announced Wednesday. The size of the funding was not disclosed.
King, a former William Morris Endeavor agent, is focused on financing, developing and distributing digital video content, films and TV shows for multicultural audiences, an overlapping segment he said provided opportunity in the marketplace.
“The thing that I’ve been realizing, having success with clients in that space, is that if you really marry access to capital with these artists, you can fulfill a need in the marketplace,” he said in an earlier interview with the Business Journal. “If you look at popular shows this year like ‘Black-ish’ and ‘How to Get Away With Murder,’ these stories are appealing to broad audiences and have universal appeal.”
Emerson, usually focused on education- and immigration-oriented organizations, doesn’t typically invest in entertainment companies. But Powell Jobs said King can execute on the content strategy.
“Charles is uniquely poised to lead what’s sure to become the kind of media company that will launch careers and brands, but more importantly add rich value to our entertainment culture,” she said in a statement.
Macro is relying on a wide-array of traditional and new financing methods. For smaller projects, King said he is eyeing crowdfunding efforts, similar to the Indiegogo campaign that gave the film “Dear White People” its initial boost. For moderately budgeted films in the $15 million range, King said he might co-finance with distributors and others.
Macro’s first slate of projects includes unspecified content from Ryan Coogler, director of “Fruitvale Station” and upcoming film “Creed,” and Craig Brewer, director of “Hustle & Flow.”’
Technology reporter Garrett Reim can be reached at [email protected]. Follow him on Twitter @garrettreim for the latest in L.A. tech news.
