Mercurius Media Capital (MMC) has launched a new $50+ million independent media fund in the US. And this fund strategically deploys the inventory of its media partners into brands with a robust presence in the US, aimed at expediting startup growth.
Media companies such as Sinclair Broadcast Group and TelevisaUnivision have contributed to the fund in different capacities. And MMC Series 1, an open-ended fund, has recently closed. The Series 2 funding round is being raised with a broader range of media companies expected to contribute ad inventory to the fund.
Launched by media executives Satyan Gajwani, Vice Chairman of Times Internet, and Piyush Puri, executive vice president of Brand Capital International & SBI Capital Markets—who together have over 30 years of experience in media, VC, and startups—Mercurius Media Capital takes a fresh approach to the distribution of media capital. This fund provides startups with media access and advertising with top-tier media companies across the US in return for equity.
MMC supports growing U.S. startups and international brands entering the US market, facilitating their expansion and reach. For example, MMC has invested in Deskera, a cloud-based accounting software backed by top-tier VCs, including Softbank, and Edly, an ed-tech and fintech startup specializing in student income-based repayment financing. Additional investments are set to be announced in the upcoming months.
This MMC model empowers media companies to invest early in high-potential brands, attract new advertisers, diversify cash flow, and mitigate risk, all while reclaiming their share of the $615bn advertising market increasingly dominated by Big Tech. And in this way media companies can appeal to a new set of advertisers who may not have previously considered mass-market channels, helping them to diversify cash flow and move beyond traditional revenue sources, to offset risk in an ever-evolving advertising market.
The media-for-equity approach is gaining popularity, with over 1,000 startups globally raising media capital to scale brand awareness and harness the reach of their media partners. Digital enterprises can conserve cash resources and extend their runway by opting for media capital, especially in the current challenging fundraising environment. MMC offers startups unrivaled media reach, including nationwide linear TV, BVOD, and digital campaigns.
MMC is an industry-agnostic media fund that targets consumer and enterprise SaaS companies, including fintech, creator economy, tech, and gaming. It was founded by a team that has backed over 30 tech companies, including Uber, Airbnb, Coursera, What3words, and Squarepanda.
MMC’s investors utilize their considerable media experience from the Times of India Group and Brands International to provide portfolio companies with a media budget, planning support, and creative assistance.
MMC’s board includes Jonathan Miller, previously Chairman and CEO of the Digital Media Group at NEWS CORP and FOX, Chairman and CEO of AOL, INC., President and CEO of USA Networks Interactive (now IAC); Michael T. Moe, founder and CEO of GSV Asset Management (GSV) and Naveen Agarwal CEO, NavDots LLC; 30+ years in leadership, board positions at public companies, startups including Boston Consulting Group and CNBC Councils Advisory Board & Tech Executive Council.
As an open-ended fund, MMC plans to announce new media partners in the coming months and anticipates securing total media commitments exceeding $100 million by 2025.
KEY QUOTES:
“Startups face huge challenges to raise funding and reach their target audience. Our media capital venture model offers growth-stage companies tools to expand their reach and increase brand equity. We’re providing media value, while also fostering strategic partnerships with media companies, creating a mutually beneficial arrangement for media companies and startups. In this way we’re redefining the landscape of capital and media engagement, creating a synergistic ecosystem where innovative ideas flourish and brands become household names.”
– The Founding Partners at MMC
“We’re pleased to be partnering with MMC to utilize our media assets to engage a new set of business clients to achieve their growth objectives. Satyan and Piyush have unrivaled experience in this space and we look forward to working with them closely.”
– Rob Weisbord, COO and President, Local Media, Sinclair
