UTA and Investcorp pact for tech and lifestyle focused investments

UTA and Investcorp have formed a partnership to invest in tech and pop culture related startup companies.

The deal expands ties between the talent agency and the investment firm, which previously had an equity stake in UTA. Investcorp exited as UTA ​​owner in July. The partners will work together through the newly formed joint venture UTA.VC.

“As content creators and entertainers recognize the opportunity to monetize their influence in shaping consumer behavior and culture, we believe UTA will have a robust pipeline of investment ideas and a clear vision for the future of the creator economy, Web3 and the entertainment that we look forward to working with,” said Anand Radhakrishnan, Investcorp’s Head of North American Technology Partnerships. He will serve as Managing Director of UTA.VC alongside UTA’s Sam Wick and Clinton Foy.

UTA has been active as an investor in startups and tech ventures for some time. The company’s previous investments prior to launching UTA.VC included investments in AwesomenessTV, Lyft, MasterClass, Chamberlain Coffee and Cameo.

“UTA.VC is the next evolution of UTA’s venture platform,” said Wick and Foy. “The strategic partnership builds on our successful previous investments in companies – such as PlutoTV, Radish, ART19 and others – and we are excited for the opportunity to invest in and partner with the next generation of companies in this space.”

Late last year, UTA also took steps to invest in video game-related companies by forming UTA Acquisition Corp. SPAC formed with a goal of raising $200 million for gaming acquisitions. As of October 12th, this SPAC has a market cap of $288 million.