Ropes & Gray Advises BlackRock Alternatives in MACRO Media Company Strategic Funding
Ropes & Gray represented BlackRock Alternatives, through the BlackRock Impact Opportunities Fund and funds and accounts managed by BlackRock, in leading a minority investment of over $90 million in MACRO, a multi-platform media company representing the voice and perspectives of people of color. Harbourview Equity Partners and funds managed by Goldman Sachs Asset Management also participated in the round, joining the list of MACRO’s investors that includes Emerson Collective, AMC Networks, Essence Ventures, MNM Creative, Raymond J. McGuire, Anré Williams, Clara Wu and others. The transaction was announced on March 21.
MACRO plans to use the capital to scale and expand operations across its existing business verticals, which include film and television studios, a talent, brand management and entertainment strategy firm and an in-house creative agency, and to invest in growth initiatives to diversify its revenue streams and reinforce the company’s core lines of business. Multi-platform media company MACRO represents the voice and perspectives of people of color and has won three Oscar awards.
The Ropes & Gray team included venture capital & emerging companies partner and practice co-chair Brad Flint and associate Joe Muller and included IP transactions partner Erica Han, employment & benefits partners Megan Bisk and Kyle Higley, tax partner Amanda Holt and asset management partner Marc Biamonte.