Next 10 Ventures is a new company that’s raised $50 million to spend money on new virtual content material, and in addition in new equipment and products and services for the creators of that content material.
The company was once based by means of Benjamin Grubbs, prior to now world director of best author partnerships at YouTube, who additionally serves as Next 10’s CEO. He’s joined by means of COO Paul Condolora, who was once previously co-head of the Harry Potter franchise at Warner Bros., and who was once additionally accountable for virtual and client merchandise at Cartoon Network and Adult Swim.
Grubbs informed me the company’s title refers to supporting the following 10 years of a author’s profession, and that it emerges from conversations he’d been having with a hit online creators.
“They ask, ‘How do I take this to the next level?’” Grubbs stated. “‘I really enjoy what I’m doing, how do I build a career out of this?’”
He added that he’s taking a look to paintings with a “diversified mix of creators” — they don’t essentially want to have a large following already, however they must have demonstrated that they are able to produce compelling movies they usually must be “really trying to make a long-term career in this space.”
It appears like Next 10’s investments will likely be structured in a collection of other ways. In some circumstances they’ll appear to be a conventional seed-stage startup funding. In others, the company will fund its personal services and products. And in nonetheless others, it is going to be investment content material and partnering with creators.
The company says it’s eager about 3 huge spaces: video content material and IP advent, e-commerce and community-based services and products. And there will likely be a fund targeted particularly on creators of instructional content material.
In truth, Grubbs stated one of the most large alternatives is bringing extra instructional content material to Asia. He stated that because the younger folks in nations like Indonesia and the Philippines transfer online, “education content is lacking on the supply side.”
“What we want to do is not just wait for this market to grow up and graduate, but actually … be an active participant,” he stated. “The mission of the company is really to enrich and inspire and entertain — and kind of in that order.”