VICE Media announces new $135 million equity financing round
VICE Media Group, a global multi-platform media company, has announced that it has closed a $135 million equity financing round from its existing investors.
The capital will be used to fund its growth initiatives including expanding VICE’s direct-to-consumer offerings, content licensing opportunities, commercial and experiential expansion, as well as M&A.
Led by TCV and Lupa Systems, and with support from Antenna Group, TPG and Sixth Street, the new investment demonstrates a continued commitment from investors in VICE Media Group’s strong fundamentals and trajectory as it drives culture-defining and authentic content production and delivery for audiences and consumers across the world.
Nancy Dubuc, CEO, VICE Media Group: “VICE Media Group has an unmatched premium collection of brands powered by diverse capabilities across global platforms. We believe we are in a stronger position today than ever before and we look forward to taking this business to the next level with this additional investment. Management and our investors believe strongly in the intrinsic value and strong prospects of VICE – now and in the future. We have worked closely with them to develop and put in motion a comprehensive strategic and financial plan to continue moving VICE forward, and we are confident that this is the right step for the company at this time.”
Jay Hoag, Founding General Partner, TCV: “Under Nancy’s leadership as CEO, there has been a clear evolution at VICE, transforming the company beyond a digital publisher into a multi-platform global content powerhouse. We’re excited to continue partnering with VICE on its next phase of expansion.”
Shane Smith, Executive Chairman of the Board, VICE: “Today, VICE is in a stronger position than ever before – revenue-wise, content-wise, traffic-wise, and management-wise. Nancy has been a critical driver of our success and growth in recent years, and she demonstrates each day that she is one of the most visionary executives in our industry. This new investment is a vote of confidence for our shared vision, and I look forward to continuing to partner with her in the day-to-day execution of this vision as we continue to build even more revolutionary things for VICE’s future.”
Shane Smith will continue to lead the Company as Executive Chairman of the board, which also includes CEO Nancy Dubuc and certain institutional investors in the company.