Spin Master is growing!
Spin Master Corp. announced its creation of Spin Master Ventures (SMV) to further its efforts to accelerate growth in each of the company’s three creative centers. SMV will focus on expanding Spin Master’s toys, entertainment, and digital games through strategic minority investments.
“We’ve always stayed true to our entrepreneurial DNA based on innovation, openness to ideas, partnerships, and pushing boundaries,” says Ronnen Harary, co-founder and board chair at Spin Master. “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.”
The company’s investment mandate will be centered on medium and long-term trends, including emerging technologies, pioneering services, and other areas where Spin Master’s offering can be strengthened. SMV will be led by a team of experienced industry veterans, focusing on a creative center.
SMV’s strategy will consist of minority investments and include investments in new teams and novel ideas. The company will focus on providing global capital to emerging businesses that have proven product and market fit. Although SMV’s overarching geographic focus will be global, the company will start in North America and Europe.
To begin, Spin Master will allocate $100 million to SMV, with two minority investments already underway. SMV has invested in Nørdlight, a Swedish mobile game development company responsible for hits like Candy Crush Saga and King.com, and Hoot Reading, an online tutoring service that provides kids with live reading lessons.