In the past decades, entertainment has gone high-tech, given the AI boom. With the growing demand for DTC, content creation tools, and more diversified customer behavior, the entertainment sector is set for steady growth. In Q1 2024, the funding for the entertainment, media, and gaming sectors has gone up by 58%, and entertainment venture capital firms aren’t going to miss out on this opportunity.
If raising entertainment venture capital is top of your mind, check out our list of investors below. It includes information on top entertainment venture capital firms’ investment focus, their contacts, and the latest scoop on deals, IPOs, angels, and accelerators.
- AI & Deep Tech
- Advertising & Marketing
- +32
- Seed
- Series A
- +1
- $100K-$500K
- $500K-$1M
- +1
- Software & Apps
- CleanTech & Sustainability
- +15
- Pre-Seed
- Seed
- +4
- Sports & Fitness
- AI & Deep Tech
- +23
- Seed
- Series A
- +1
- AI & Deep Tech
- Advertising & Marketing
- +19
- Seed
- Series A
- +3
- $0-$100K
- $100K-$500K
- +3
- AI & Deep Tech
- Advertising & Marketing
- +27
- Seed
- Series A
- +3
- AI & Deep Tech
- Advertising & Marketing
- +20
- Pre-Seed
- Seed
- +4
- $100K-$500K
- $500K-$1M
- +2
- AI & Deep Tech
- Advertising & Marketing
- +23
- Seed
- Series A
- +5
- $100K-$500K
- $500K-$1M
- +2
- Web 3.0
- Gaming
- +4
- Seed
- Series A
- +2
- $0-$100K
- $1M-$3M
- +2
- Healthtech & Wellness
- Hardware. Robotics & IoT
- +7
- Seed
- Series A
- +1
- $0-$100K
- $3M-$10M
- +1
- Advertising & Marketing
- B2B
- +18
- Seed
- Series A
- +4
- $100K-$500K
- $500K-$1M
- +2
- Software & Apps
- E-commerce & Retail
- +2
- Seed
- Series B
- +2
- $0-$100K
- $1M-$3M
- +1
- AI & Deep Tech
- Advertising & Marketing
- +23
- Seed
- Series A
- +2
- $500K-$1M
- $1M-$3M
- +1
- Hardware. Robotics & IoT
- Real Estate & Proptech
- +13
- Pre-Seed
- Seed
- +4
- $0-$100K
- $100K-$500K
- +5
- Hardware. Robotics & IoT
- Other
- +8
- Pre-Seed
- Seed
- +3
- AI & Deep Tech
- Advertising & Marketing
- +29
- Seed
- Series A
- +3
- AI & Deep Tech
- Advertising & Marketing
- +30
- Seed
- Series A
- +4
- AI & Deep Tech
- Advertising & Marketing
- +22
- Seed
- Series A
- +5
- AI & Deep Tech
- Advertising & Marketing
- +22
- Seed
- Series A
- +4
- Cannabis & Psychedelics
- Healthtech & Wellness
- +3
- Series B
- Series C+
- +2
- $0-$100K
- $100K-$500K
- +2
- Hardware. Robotics & IoT
- Natural Resources
- +7
- Seed
- Series A
- +3
- $0-$100K
- $1M-$3M
- +1
Most active investors in the entertainment industry
Due to the rise of new entertainment platforms, content creation tools, and immersive technologies, entertainment venture capital funding is on the rise. Recently, the pool of media and entertainment investors has grown, and the most notable among them are:
Workday Ventures invests in IT, finance, B2B, and media startups. This entertainment venture capital firm has already allocated over $250M via 84 investments, 16 of which ended up as a successful exit. What is seed investing?
New Enterprise Associates has $25 billion in AUM to back all-stage ventures in the technology, healthcare, and consumer products sectors. This entertainment venture capital firm has successfully guided over 270 IPOs and 430 M&As.
RSE Ventures funds early-stage sports, media, marketing, tech, and entertainment startups. The firm has over 60 investments and 21 exits. Their check size typically varies between $1M to $5M and among notable backed startups are Miami Dolphins, International Champions Cup, and VaynerMedia.
Most notable entertainment startups
While Disney, Netflix, Nintendo, Electronic Arts, Roblox, Spotify, and Ubisoft are the industry’s top dogs, many entertainment venture capital firms are eager to back newcomers with cool ideas, solid traction, and scalable business models. Media investors also eye startups that effectively leverage AI and those that try to push AR and VR beyond simple gaming and entertainment, integrating these technologies into education, art, visual tourism, and training.
Eva, the platform that helps local performers connect with event bookers, landed a $2 million deal because in-person events are gaining popularity again. The entertainment venture capital firms doubled down on this venture, having channelled more than the company targeted and valued Eva at $15 million.
Pocket FM, an entertainment startup located in India, hit $160 million in annual revenue in 2023, and in 2024, it won a $103 million Series D round. The company targets global expansion. Its expansion into the USA has turned out to be a powerful move, and now the startup is preparing to break into the European and Latin American markets.
Among other darlings of entertainment venture capital firms that we can point out are Authentify Art, Gigwell, and Cameo. Authentify Art, a San Diego-based company, shakes the art world with its tamper-proof IoT tags. Gigwell changes the entertainment industry with its cloud-based booking platform and replaces outdated Excel and Word processes. Cameo is a media startup that lets users buy personalized video shoutouts from celebrities. The company attracted over $165 million in media venture capital.
Startup accelerators in the entertainment industry
There are several ways startups can get venture capital. Media and entertainment accelerators and incubators are among the options. You can find these programs worldwide, offering mentorship and funding. Some firms may take 1-5% equity, while others, like Y Combinator, help with no equity taken.
Nowadays, there are dozens of accelerators and incubators that may help you get entertainment venture capital. Choose the one that matches your needs, goals, and personal vibes. You can check out some accelerators below:
The LA-based Disney Accelerator has a 3-month program with mentorship and opportunities to pilot products within the ecosystem. Its alumni raised over $280 million in 2021, with Polygon’s $450 million Series A and Flickplay’s acquisition by Yuga Labs as recent deals.
Another investment partner you can rely on is Boomtown Accelerator. It offers a 12-week program with $20,000 for 5% equity. Beyond funding, you’ll also get mentorship, resources, and access to a network of entertainment investors.
UTA Ventures is also a good option for early-stage entertainment startups. Its 12-week program includes mentorship, workshops, and small-size checks.
Entertainment angel investors
Aside from traditional entertainment venture capital firms, early-stage founders may seek help from angel investors. Take, for example, Jason Calacanis, the founder and CEO of Inside.com and Launch. He invests in software, e-commerce, and entertainment startups. Ronald Conway, ex-partner of the Angel Investors LP funds, can also be a good choice. He backs ventures in the software, social media, and internet industries. He supported such giants as Google, Ask Jeeves, Paypal, Good Technology, Opsware, and Brightmail. One more entertainment angel investor worth attention is Bradley C. Harrison, an ex-partner of the seed-stage venture fund ITU Ventures. He supports mobile, software, and SaaS companies in addition to entertainment startups.
Entertainment venture capital ecosystem
The entertainment industry has been much impacted by AI. It has changed the way entertainment venture capital firms support ventures in the sector. Investors now seek startups that can leverage AI not only in gaming but also in education, training, and tourism. Major investments in Q2 2024 going to Anthropic ($580M Series B), Inflection AI ($225M Series A), Cohere ($125M Series B), and Jasper ($125M Series A). In the following years, AI is set to transform media production, distribution, and immersive experiences to make content creation and targeted advertising better.
Under the umbrella of entertainment, gaming still takes the front seat. However, it’s no longer just for kids and just for fun—it’s a billion-dollar industry with mobile gaming leading the charge. Gaming influences media, entertainment, and investment landscapes, which results in cross-platform monetization. Entertainment venture capital firms have shown much interest in gaming startups. In 2021, Epic Games landed a $1 billion deal at a $28.7 billion valuation.
As large corporations lost dominant power and individual creators became more popular, the interest of media investors has shifted. Creators no longer need traditional media gatekeepers as they can produce, share, and monetize their content directly. As a result, media venture capital firms have become more interested in creator-driven platforms and tools. For example, Pearpop, a marketplace that connects creators with brands for paid collaborations, landed an $18 million Series A deal in 2022. Since 2020, this entertainment startup has secured $34 million in VC funds.
Private equity may step in as an alternative exit strategy for startups that don’t meet media venture capital growth criteria. 2024 is expected to become the year when the IPO window will start opening again. Both startups and investors bet on this, but the chances are still 50/50. VC investors in the entertainment industry eye efficient and fast-growing ventures. But what if some startups don’t match these criteria? Won’t they be able to exit via an IPO then? Of course, no. If these startups don’t meet the growth criteria of entertainment venture capital firms, they can turn to private equity. The point is that many entertainment private equity firms are searching to snatch up ventures in need of capital.
How to score venture capital in media and entertainment?
Breaking into the media market can be a smart move as the industry is growing and becoming more attractive for entertainment venture capital firms. This is due to the rise of AI and individual creators and the changing consumer needs.
If you want to find venture capital investors who love supporting entertainment startups, you may start from our list. Also, you may attend various startup events and conferences to meet with other entrepreneurs and to seek investors there. For the first-time founders, it may be a good idea to turn to entertainment angel investors or accelerator and incubator programs. They give more support and guidance compared to traditional VCs.
Just remember that successful fundraising is a mix of a scalable business model, a cool pitch deck, strong market traction, and a proactive investor outreach strategy, just to name a few.
If you feel overwhelmed, contact our Waveup team, and we’ll gladly help you with your fundraising journey, as we’ve already done for more than 600 happy clients.