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    Tag: celebrities

    Serving Celebrities in Venture Capital

    LOUD Capital, a Columbus, Ohio-based alternative investment venture capital firm, announced this week the launch of Legacy Entertainment Ventures, a company providing venture-focused services to…

    Paul O'Brien March 6, 2019
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    Forum Description

    LOUD Capital, a Columbus, Ohio-based alternative investment venture capital firm, announced this week the launch of Legacy Entertainment Ventures, a company providing venture-focused services to "celebrities" in the music, eSports, and influencer markets. Reflective of the work we're doing with companies and in corporate innovation, we're thrilled by what LOUD Capital, and other venture groups like it, are doing as it's the collaboration of domain experience in innovation, new venture development, and talent that mitigates risk for investors, companies, and artists, and can drive better results for both entrepreneurs and their capital partners. Legacy Entertainment Ventures focuses on leveraging celebrity brands to maximize investments and market impact. Former professional musician, 20-year veteran of the music industry, and serial entrepreneur, Brian Penick, will be the managing partner for Legacy Entertainment Ventures out of its recently opened New York office. Penick is also the chief marketing officer of  LOUD Capital.  With several notable music-focused startups, including Soundstr, which was acquired in 2018 by entertainment music technology company VNUE Inc. Penick will be at South by Southwest EDU this month as a moderator of the "Music Education & Employment: Bridging the Gap" panel, in addition to SXSW where he will be representing LOUD and Legacy as a part of MediaTech Ventures venture capital initiative, Funded House. Legacy Entertainment Ventures is building private-label venture funds surrounding a celebrity's name and brand; focusing the passions and interests that define – as the name of the fund suggests – the client partner's legacy. While funds will require direct client partner capital, additional investors such as institutional investors and LOUD's nationwide network of limited partners will have the ability to contribute to celebrity funds. This structure will allow professional investors to buy in to their favorite celebrity brands. Legacy Entertainment Ventures' mission is to empower client partners by using venture capital as a vehicle to increase their net worth, brand value, and social impact. While venture and entertainment have coexisted for some time, celebrity investments are often silent with no support or endorsement. Influencers' most valuable asset is their brand and the impact they have on their audience.
    "Aligning a celebrity's brand to market a product or service – that is, actually being 'LOUD' about their involvement – will inherently increase the value of the investment. A celebrity appearance fee from a product placement is great, but the return would be significantly higher if the individual were an owner in that business, had control around the marketing, and had long-term association beyond a single appearance," says Penick. "This is especially true if those investments target areas of social impact where a celebrity's fan base aligns. This is personalized impact investing taken to the next level. This is the evolution of alternative revenue for the entertainment industry."
    Legacy Entertainment Ventures will be curating content and events which help tomorrow's celebrities understand how to start planning for their own legacy. LOUD Capital has been empowering entrepreneurs, investors, and partners through venture for several years. "What we are doing with Legacy Entertainment Ventures is to bring that empowerment model of entrepreneurship, education, and venture to the entertainment industry," adds Navin Goyal, co-founder and managing partner of LOUD Capital. "We are so excited to have Brian on the LOUD team, to have his background as an entrepreneur and as a professional musician, and to lead Legacy Entertainment Ventures as a comprehensive model for building a legacy."   The company's philosophy is to provide value beyond capital, including business development and advisory services, networking opportunities, and more. LOUD positions itself to be an entry into the venture capital community for both investors and entrepreneurs, primarily working with early-stage companies. If you're in Austin for SXSW, as I hope many of you are, join us at Funded House and get to know Brian directly.   Of course, we'll always be here; get in touch here and we'll connect the dots.

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