Former Google CEO Eric Schmidt, former Facebook president Sean Parker, Demand Media founder Richard Rosenblatt, former News Corp. COO Peter Chernin, Andreessen Horowitz co-founder Marc Andreessen, WPP, and Mubadala Development have invested in Raine. Raine is a merchant bank that was founded by Ari Emanuel and two former Wall Street dealmakers. Fans of the TV show Entourage will probably know Emanuel best for having the character Ari Gold based on him.
Raine has offices in NY, LA, and Shanghai. The bank is led by former Goldman Sachs partner and media banker Joe Ravitch. Former UBS technology, media, and telecoms division head Jeff Sine is also a leader at Raine. Raine is getting close to raising $500 million for acquiring media, sports, and entertainment companies. Other investors in Raine include former Yahoo! CEO Terry Semel, Jay and Miky Lee, and Masayoshi Son.