Media organisations are rolling out the second round of the Scaleup Mediafund, Australian’s only media for equity fund.
The Scaleup Mediafund includes News Corp Australia, Nova Entertainment, Network Ten, Foxtel and Fox Sports which receive a minority shareholding in the start-ups in exchange for inventory, campaign executions and real-time reporting.
This year REA Group has come on board, offering its digital media network as inventory.
Michael Lamont, the fund manager of Scaleup Mediafund, says the second three-year funding round is looking to grow its portfolio with early stage businesses that have a clear need for media and marketing support.
“We have had a massive three years. When we started the fund we had the ambition of being a driver of brand and customer growth for great start-ups that had a clear need for advertising,” Lamont says.
“Today with a portfolio of successful investees we can point to the realisation of that ambition.”
Since launching in 2017, shareholders have committed a total capacity of more than $30 million in advertising and marketing to the fund.
Previous businesses which benefited from the funds include the recently ASX-listed Pointsbet, which raised $75 million in its June listing and is looking to expand in the US, along with real-estate agent comparison service Local Agent Finder and babysitting network Juggle St.
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