Business
Spin Master Establishes Spin Master Ventures to Accelerate Growth in Key Strategic Areas
Spin Master Establishes Spin Master Ventures to Accelerate Growth in Key Strategic Areas ...
About this update from Spin Master Corp
[{"type":"text","content":"\n \n \n \n Spin Master Establishes Spin Master Ventures to Accelerate Growth in Key Strategic Areas\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n PR Newswire\n \n \n \n \n \n \n Investments will advance the Company's strategy and assist start-ups and entrepreneurs in the children's entertainment space\n \n \n \n \n \n TORONTO\n \n ,\n \n Oct. 19, 2021\n \n /PRNewswire/ - Spin Master Corp. (\"Spin Master\" or \"the Company\") announced today the creation of Spin Master Ventures (\"SMV\"). SMV's focus is to accelerate growth in each of the Company's three creative centres comprising Toys, Entertainment and Digital Games, through strategic minority investments. SMV's investment mandate will be centred on medium and long-term trends including emerging technologies, pioneering services and other areas where Spin Master's offering can be strengthened.\n \n \n \n \n \n \n \n \n \n \"We've always stayed true to our entrepreneurial DNA based on innovation, openness to ideas, partnerships and pushing boundaries,\" said\n \n Ronnen Harary\n \n , Spin Master's Co-Founder and Board Chair. \"The pace of innovation within the toys, entertainment and digital games industries is accelerating rapidly and by investing with a long-term view in leading ventures with promising ideas, we can increase our access to potentially game-changing thinking and concepts. Spin Master Ventures will establish us as the partner of choice for entrepreneurs looking for capital to start and grow a business in the kids' space and will complement our acquisition strategy as well as bolster our product development pipeline.\"\n \n \n SMV will be led by experienced industry veterans, with a deep focus by creative centre. Spin Master will initially allocate\n \n $100 million\n \n to SMV, funded from existing internal resources. SMV's strategy will comprise minority investments and will include both early-stage companies, with investments in new teams and novel ideas, as well as providing growth capital to emerging business that have proven product and ...