Emerson Collective, a socially conscious fund started by billionaire Laurene Powell Jobs, acquired a minority stake in Anonymous Content, a talent-management and film company behind recent pictures such as “The Revenant” and “Spotlight,” this year’s Oscar winner for best picture.
Powell Jobs’s investment will help the company produce more socially-relevant content aimed at advancing social change, according to a statement Friday. Terms of the investment weren’t disclosed.
The move paves deeper inroads into Hollywood for Powell Jobs, the widow of Apple Inc. co-founder Steve Jobs, whose wealth is estimated at $17 billion, according to the Bloomberg Billionaires Index. She is Walt Disney Co.’s largest shareholder, with an 8 percent stake as of January, through a family trust. She founded the Emerson Collective to fund educational initiatives and has since expanded to immigration and entrepreneurship.
Last year, Emerson Collective led an investment in Macro, a media company that makes films, TV shows and web series for multicultural audiences.
Emerson Collective will be represented on Anonymous’s board, and operations will continue to be led by Chief Executive Officer Steve Golin and partners Michael Sugar, Doug Wald, Eric Stern and Diane Janicki, according to the statement.
“Emerson Collective believes in the power of storytelling to shape our culture and improve lives,” Powell Jobs said.
Guggenheim Securities acted as the financial adviser to Anonymous Content. Anonymous Content was also advised by a team led by Robert Haymer at Latham & Watkins.
This article was provided by Bloomberg News.