Toymaker Spin Master creates $100M venture capital fund for early-stage companies
BNN Bloomberg
Spin Master Corp. is investing $100 million to create Spin Master Ventures to help fund early-stage companies.
TORONTO - Spin Master Corp. is investing $100 million to create Spin Master Ventures to help fund early-stage companies.
The company behind the Paw Patrol franchise says the fund will make strategic minority investments in toys, entertainment and digital games.
It says the investments will include both cash for early-stage companies as well as growth capital for emerging business that have a proven product.
Ronnen Harary, Spin Master's co-founder and board chair, says Spin Master Ventures will help establish the company as the partner of choice for entrepreneurs and complement its acquisition strategy as well as bolster its product development pipeline.
To launch the fund, Spin Master Ventures has made minority investments in two companies.
The company has invested in Nordlight, a mobile game development company based in Stockholm, and Hoot Reading, an online tutoring service.
