Stagwell Media LLC, the fund of The Stagwell Group, completed a $260m capital raise from investment funds managed by global private equity investor AlpInvest Partners.
AlpInvest Becomes bhe first outside investor in the marketing group since its launch.
The new investment will support Stagwell’s strategy of building a network of innovative marketing and research companies.
Since its founding in 2015 by Mark Penn and Steve Ballmer, Stagwell Group has completed seventeen investments. Its private equity fund’s portfolio includes more than a dozen collaborative, digital-first agencies, including:
– digital marketing agency Forward 3D Group,
– media innovator MMI Agency,
– healthcare and consumer experts SCOUT,
– research leader Harris Insights & Analytics,
– performance marketing firm PMX Agency,
– creative digital leader Code and Theory,
– strategic communications agency SKDKnickerbocker,
– telecommunications researchers HarrisX,
– entertainment research innovator National Research Group (NRG),
– public relations firm Finn Partners,
– communications agency Wye Communications,
– digital advocacy shop Targeted Victory,
– creative advertising consultancy Wolfgang,
– creative agency Observatory,
– online reputation management firm Reputation Defender, and
– technology innovator Stagwell Technologies.