RedBird and Sound Ventures sign $1 billion investment partnership
The signed agreement targets companies where technology, media and culture meet, pairing RedBird’s investment resources with Sound’s founder access and marketing skills.
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RedBird Capital Partners and Sound Ventures have signed a $1 billion partnership to invest in companies where technology, media and culture overlap, The Hollywood Reporter said. The sum is committed capital for future investments, not a total already invested through the partnership.
The agreement brings together firms with investments across those fields. RedBird invested in Skydance Media in February 2020 and has also backed film studio Artists Equity. Sound Ventures' earlier investments include Anthropic and OpenAI.
What each firm will contribute
RedBird will contribute global relationships and specialists who help businesses grow. Its founder, Gerry Cardinale, said the partnership would put RedBird’s investment platform and strategic network behind the founders it backs.
Sound Ventures will bring access to founders and marketing skills. Co-founder Guy Oseary, a music industry talent manager, said RedBird’s resources and scale would increase the impact of Sound’s investments as the firms build the joint platform.
RedBird X, RedBird’s superintelligence (SI) team led by Hamid Biglari, will also take part. Biglari said the team would apply the expertise it uses across RedBird’s existing investments to assess potential investments and support companies alongside Sound’s team.
Support for founders and implementation
On March 29, 2017, Sound Ventures announced Effie Epstein’s appointment as managing partner and chief operating officer. It said she would be responsible for day-to-day fund management, including allocation, strategy, investments and support for portfolio companies.
Epstein said both firms aim to support companies as they grow and that the partnership could help founders reach people, opportunities and resources. The programme calls for investments in companies within its technology, media and culture remit; recipients, a deployment timetable and financial terms beyond the $1 billion commitment remain unspecified.
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