The Black experience is layered, textured and beautiful, something that MACRO has always recognized. Now, thanks to an impactful investment, the film multimedia content company will continue to share stories that meaningfully highlight our culture.
MACRO exclusively shared with ESSENCE the recent completion of an over $90 million minority investment led by BlackRock Alternatives, through the BlackRock Impact Opportunities Fund and funds and accounts managed by BlackRock. Harbourview Equity Partners and funds managed by Goldman Sachs Asset Management also participated in the round, joining the list of MACRO’s investors that also includes Emerson Collective, AMC Networks, Essence Ventures, MNM Creative, Raymond J. McGuire, Anré Williams, Clara Wu and others.
MACRO is the driving force behind major films like Judas and the Black Messiah starring Academy Award Winner Daniel Kaluuya, and Just Mercy starring Michael B. Jordan and Jamie Foxx.
“It’s essential that Black visionaries have the resources and support they need to tell Black stories and MACRO has created an ecosystem that skillfully and unapologetically serves that purpose,” said Richelieu W. Dennis, Jr., Founder of Essence Ventures and Head Intern at Sundial Group in an exclusive statement to ESSENCE.
The company aims to use the funding to scale business initiatives and to refine its infrastructure to amplify their current practices.
“With the global power of a partner like BlackRock Alternatives as well as our new additional investors, we are extremely well-positioned to build on the vast opportunities in the media and entertainment arena, both in the U.S. and abroad,” said Charles D. King, Founder & Chief Executive Officer, MACRO in a news release shared with ESSENCE. “This next phase for MACRO is to extend our reach by fueling each business vertical with the appropriate human and financial resources to unleash the full potential of the MACRO ecosystem. In particular, we will markedly expand our efforts in the development and ownership of IP, strengthen our connectivity with consumers and broaden the range of services provided by our brand vertical and representation partnership.”
Lead investor, BlackRock Impact Opportunities Fund, invested in the vision of MACRO to help amplify Black visibility.
“MACRO has an established track record of producing premium, award-winning TV and film content focused on people of color, which has historically been short in supply but high in demand,” said Pam Chan, Chief Investment Officer & Global Head, BlackRock’s Alternative Solutions Group. “We are pleased to make this investment on behalf of our clients, and look forward to partnering with Charles and MACRO’s management team to further the company’s mission of increasing representation of persons of color across its media verticals.”
“MACRO has a deep understanding for how to shape culture and economically empower the voice and perspectives of Black people and people of color on a global level and is a perfect fit for our vision of the next generation of multiplatform media companies,” said Sherrese Clarke Soares, Chief Executive Officer & Founder, HarbourView Equity Partners. “By introducing new images, ideas and paradigms that reflect the dynamic world in which we live, MACRO is uniquely positioned to bridge the $15 billion+ equity gap in Hollywood by creating culturally authentic and socially relevant content.”