Participant Joins Media, Entertainment, Sports Investment Fund

LOS ANGELES: Participant Media has become a partner, alongside investment firm TPG and Evolution Media Capital (EMC), in Evolution Media, a venture set up to invest up to $350 million in global media, sports and entertainment entities.

Evolution Media Capital (EMC) is a boutique investment bank formed in partnership with CAA. Participant Media was set up to create entertainment that inspires social change. It has been behind a slew of feature films and also owns the Pivot cable network, home to shows like Joseph Gordon-Levitt's HitRECord on TV!

Participant has taken an equity stake in Evolution Media and says it intends to further invest in the venture, which was founded by TPG and EMC in 2013.

“From the start, Participant was envisioned by founder Jeff Skoll as a global media company and our partnership with TPG Growth and EMC allows us to accelerate our reach and impact,” said Jim Berk, CEO of Participant Media. “By joining Evolution Media, we dramatically increase our access to strategic and emerging media opportunities. TPG Growth is a global industry leader and our experience with EMC on three successful transactions provides us with partners for whom we have great trust and respect.”