A24, the indie studio behind “Moonlight” and “Uncut Gems,” announced an equity investment of $225 million, which it says it will use to invest in and expand its production and distribution operations.
Stripes serves as the lead investor for the round and Stripes’ Founder, Ken Fox, will join A24’s board as part of the investment. Neuberger Berman, on behalf of client funds, co-led a group of investors in the round. Collectively, this investment group will hold less than 10% of the company. That values the company at $2.5 billion. This is the first equity raise for A24 since an initial seed funding by Eldridge, which remains a minority stakeholder in the company. There had been rumors that A24 was being shopped around as part of the new interest in content companies, one that’s seen the likes of Reese Witherspoon’s Hello Sunshine and Will Smith and Jada Pinkett…
