MACRO Receives $90M Minority Investment to Boost Black Representation in Media
Macro — the film company well-known for producing award-winning TV and film content focused on people of color — completed an impactful investment from several investors to support its effort of telling the black stories.
For decades, black people in the film industry have been subject to discrimination and unfair treatment. Despite the hurdles, black filmmaking companies like MACRO have persevered and made significant contributions to the film industry. Today, black people are finally starting to get the recognition they deserve and this impactful investment will go a long way to ensure the film multimedia content company continues to tell stories that showcase our way of life.
MACRO solely revealed to ESSENCE that they recently completed more than $90 million minority investment from BlackRock Alternatives, Harbourview Equity Partners and Goldman Sachs Asset Management. The investors join the list of MACRO’s investors which consists of Emerson Collective, Essence Ventures, AMC Networks, MNM Creative, Anré Williams, Raymond J. McGuire, Clara Wu and others.
MACRO has been responsible for producing some incredible films, such as Judas and the Black Messiah with Academy Award Winner Daniel Kaluuya, and Just Mercy with Michael B. Jordan and Jamie Foxx.
In an interview with ESSENCE, Richelieu W. Dennis, Jr., Founder of Essence Ventures and Head Intern at Sundial Group said that MACRO had created an ecosystem that amplified the voices of Black and Latinx creators and it was necessary to ensure creators have the assistance they need to tell their stories.
MACRO has become a leading force in the independent film space, producing and financing some of the most groundbreaking and culturally relevant films of the past decade and intends to use the acquired funding to continue doing just that.
MACRO’s success is built on the backs of its strong relationships with Black and Latinx creatives. The company has developed an ecosystem that provides the resources and support these visionaries need to tell their stories. From financing and production to distribution and marketing, MACRO has become a one-stop shop for Black and Latinx filmmakers. And now with support from a partner like BlackRock Alternatives and others, MACRO is better positioned to take advantage of opportunities in the media and entertainment industry according to their Founder & Chief Executive Officer, Charles D. King.
The company’s commitment to diversity has not only led to critical and commercial success, but also to a more inclusive and representative industry. MACRO’s films have helped to shift the landscape of the industry, proving that audiences are hungry for stories that reflect their lived experiences.
In the coming years, MACRO will continue to champion the voices of Black and Latinx creatives, ensuring that their stories are told on the big screen in line with the intentions of their lead investor, BlackRock Impact Opportunities Fund.
MACRO has a long history of making top-quality TV shows and movies featuring people of color. This under-represented but high-demand demographic is something BlackRock’s Alternative Solutions Group are passionate about, and they’re excited to invest in MACRO and partner with Charles and the management team to help them achieve their goal of better representation across all media platforms, according to Pam Chan, Chief Investment Officer & Global Head.
MACRO has worked with some of the world’s most influential Black and Brown thought leaders, creatives, and entrepreneurs to create content, products, and experiences that uplift and inspire. MACRO is committed to using its platform to amplify the voices of the Black and Brown community and to help create a more just and equitable world.
As the largest independent media company led by people of color, MACRO is committed to bringing fresh and diverse perspectives to Hollywood.
With a strong track record of producing award-winning content, MACRO is well-positioned to bridge the $15 billion+ equity gap in Hollywood by continuing its mission of increasing representation and inclusion in Hollywood according to Sherrese Clarke Soares, Chief Executive Officer & Founder, HarbourView Equity Partners.
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