Ads or a Check? With Miroma Ventures, Startups Get to Choose

Ben Bergman

Ben Bergman is the newsroom's senior finance reporter. Previously he was a senior business reporter and host at KPCC, a senior producer at Gimlet Media, a producer at NPR's Morning Edition, and produced two investigative documentaries for KCET. He has been a frequent on-air contributor to business coverage on NPR and Marketplace and has written for The New York Times and Columbia Journalism Review. Ben was a 2017-2018 Knight-Bagehot Fellow in Economic and Business Journalism at Columbia Business School. In his free time, he enjoys skiing, playing poker, and cheering on The Seattle Seahawks.

Ads or a Check? With Miroma Ventures, Startups Get to Choose

At first glance, Broadway shows and early-stage startups would appear to have little in common. But ad mogul Marc Boyan thinks the way they're marketed is similar. He wants to take the expertise he gleaned leading campaigns for high-profile shows like "Hamilton" and "The Book of Mormon" to tech.


"The thing there with the Broadway stuff is that they create huge brands with small budgets," Boyan said. "Imagine if you could do that for tech startups."

Boyan announced Thursday that his company, The Miroma Group — one of the largest marketing services companies in Europe — is launching a new venture fund through Miroma Ventures, headquartered in Los Angeles and London.

The firm says it will distribute $100 million over the next few years to back purpose-driven consumer brands at the seed or Series A stage in the form of traditional checks, as well as marketing services. In other words, instead of just money, startups can opt to get access to Miroma's vast marketing engine, which in addition Broadway shows has powered campaigns for brands such as Adidas, Disney, L'Oreal and Heineken.

"Some may not want cash, some may only want cash," Boyan said. "We become partners more than suppliers and we have skin in the game."

Miroma Ventures has already invested in more than 50 media and consumer businesses around the world, including early-stage investments in Classpass and Pinterest.

After living in London, Boyan moved from New York to Beverly Hills during the pandemic and sees Los Angeles as an ideal hub for melding marketing and startups.

"You're getting access to a lot of talent – influencers, artists and celebrities," he said. "And we're so close to Silicon Valley. In London, I'm not close to anything but Berlin."

Will Schmitt, who co-founded Trail Post Ventures, a growth equity firm specializing in early-stage consumer investments, has been tasked with leading Miroma's venture strategy.

"We see a lot that we're excited about in terms of the early ecosystem and startups and innovation here within L.A., especially within food, beverage — anything kind of health and wellness, beauty, personal care," Schmitt said. "It's really a mecca for that."

The team at Miroma Ventures also includes Sir David Michels, former Deputy Chairman of the British retailer Marks & Spencer; Kelly McCarthy, former SVP at LVMH and GM/Sr Director at Nike; Justin Stefano, former co-founder and CEO at Refinery29; and Patrick Yee, former CMO of Daily Harvest.

Editor's note: An earlier version of this story said Boyan was a self-described billionaire but his representatives later clarified that he is not in fact a billionaire.

https://twitter.com/thebenbergman
ben@dot.la

Subscribe to our newsletter to catch every headline.

Cadence

LA Tech ‘Moves’: Saviynt Gains New CEO, The FIFTH Taps Agency Veteran to Lead Creative Team

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

LA Tech ‘Moves’: Saviynt Gains New CEO, The FIFTH Taps Agency Veteran to Lead Creative Team
LA Tech ‘Moves’:

“Moves,” our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

***

Read moreShow less

Los Angeles’ Wage Growth Outpaced Inflation. Here’s What That Means for Tech Jobs

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College and previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Los Angeles’ Wage Growth Outpaced Inflation. Here’s What That Means for Tech Jobs

Inflation hit cities with tech-heavy workforces hard last year. Tech workers fortunate enough to avoid layoffs still found themselves confronting rising costs with little change in their pay.

Those national trends certainly touched down in Los Angeles, but new data from the Bureau of Labor Statistics (BLS) show that the city of angels was the only major metro area that saw its wage growth grow by nearly 6% while also outpacing the consumer price index, which was around 5%. Basically, LA was the only area where adjusted pay actually came out on a net positive.

So, what does this mean for tech workers in LA County?

Read moreShow less
https://twitter.com/samsonamore
samsonamore@dot.la

Energy Shares Wants to Offer You a Chance to Invest in Green Energy Startups

David Shultz

David Shultz reports on clean technology and electric vehicles, among other industries, for dot.LA. His writing has appeared in The Atlantic, Outside, Nautilus and many other publications.

Energy Shares Wants to Offer You a Chance to Invest in Green Energy Startups
Photo by Red Zeppelin on Unsplash

The Inflation Reduction Act contains almost $400 billion in funding for clean energy initiatives. There’s $250 billion for energy projects. $23 billion for transportation and EVs. $46 billion for environment. $21 billion for agriculture, and so on. With so much cash flowing into the sector, the possibilities for investment and growth are gigantic.

These investment opportunities, however, have typically been inaccessible for everyday retail investors until much later in a company’s development–after an IPO, usually. Meaning that the best returns are likely to be captured by banks and other institutions who have the capital and financing to invest large sums of money earlier in the process.

That’s where Pasadena-based Energy Shares comes in. The company wants to help democratize access to these investment opportunities and simultaneously give early-stage utility-scale energy projects another revenue stream.

Read moreShow less
RELATEDEDITOR'S PICKS
LA TECH JOBS
interchangeLA
Trending