The Milanese fund Azimut bets on the famous BroadLight
Tuesday, April 12, 2022 6:38 p.m.
Asset management company Azimut Group has agreed to buy a 10% stake in BroadLight, a Hollywood group.
BroadLight was founded by talent manager Rick Yorn and entertainment attorney Kevin Yorn, who represent some of the biggest names in showbiz including Cameron Diaz, Leonardo DiCaprio and Chris Rock.
According to reports from the FinancialTimesthe idea behind the investment is that celebrities can be useful in finding new businesses while generating publicity around them.
While the company’s website does not provide exact details of the company’s offerings, simply stating, “BroadLight Capital is an investment firm focused on high-growth, innovative private companies in the global technology sectors. technology, consumer, media and entertainment,” sources have suggested to the FT that the Milan-based asset management firm’s investment could reach $300 million in assets.
BroadLight also claims to have made hundreds of introductions between start-ups and famous faces.
“BroadLight brings a fantastic pipeline of compelling deals from a strong roster of A-list stars who will invest alongside Azimut’s clients and help accelerate the growth of portfolio companies,” said Jeff Brown, Director CEO of Azimut Alternative Capital Partners, in an interview.