Moonlight and Euphoria production house, A24 Films, has secured an equity investment of £170m.
The indie recently hired BBC Director of Drama, Piers Wenger and Director of Film, Rose Garnett to run its international film and TV slate. The pair will be based in London.
Investment house, Stripes, served as lead investor. Stripes’ founder, Ken Fox, will take a seat on the A24 board.
Investment house Neuberger Berman, also led a group of investors in the round.
The new investors will collectively hold less than 10% of the company.
Said Fox: “A24 is a world-class brand and an extraordinary business. We’ve built a relationship with the A24 team over many years and have been amazed by the breadth and impact of their iconic storytelling globally. A24 is synonymous with incredible content, and it is a prime example of Stripes’ belief in partnering with founders who are building amazing products. We are thrilled to work with A24 in their next phase of growth.”
Said Raman Gambhir, portfolio manager at Neuberger Berman: “A24 has established an unparalleled culture – one that puts their creators first. The authenticity of their brand provides all A24 stakeholders with a long runway for success. It’s truly a privilege to partner with this remarkable management team as they execute on their long-term strategic vision.”
Goldman Sachs & Co. advised on the transaction alongside Latham & Watkins.
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