LOS ANGELES--(BUSINESS WIRE)--BroadLight Capital announced today the launch of a $225 million debut fund to invest in growth stage companies across consumer and technology sectors.
Co-founded by prominent entertainment attorney, Kevin Yorn, renowned talent manager, Rick Yorn, and seasoned investment banker David Dorfman, BroadLight Capital aims to leverage the highest-level connections and relationships across the media & entertainment ecosystem to help CEOs solve endemic issues around customer acquisition and engagement.
“BroadLight is a natural extension of the client-focused businesses that my brother Rick and I have each led for the past thirty years,” said co-founder Kevin Yorn. “We have introduced hundreds of high growth businesses and their founders to our network that extends beyond the global entertainment business and reaches entrepreneurs, creatives, investors and influencers of culture. BroadLight, its partners, and our clients are now uniquely positioned to participate further in this differentiated deal flow. We are proud of what we have built, and we are so grateful for our existing and new relationships that make this exciting new chapter possible.”
Rick and Kevin have partnered with David Dorfman, who has over 22 years of investment and merchant banking experience and serves as Managing Partner. Dorfman was previously the Global Head of Technology, Media & Telecom Investment Banking at Macquarie Capital.
“After over two decades on Wall Street, the opportunity to launch a new firm with such a unique story was too exciting to pass up,” said Dorfman. “In combining the Yorns’ extraordinary network with a first-rate team of investment professionals and a fundamentals-based approach to underwriting, we believe we have the foundation to build something special.”
BroadLight’s central thesis is that the convergence of technology, consumer, and entertainment sectors will accelerate in the coming decade. For growth businesses across the technology and consumer landscape, traditional customer acquisition channels such as Facebook and Google advertising have eroded as data privacy concerns have prompted regulatory and policy changes, such as Apple’s App Tracking Transparency (ATT) framework. Partnering with artists, athletes, entertainers, and premium content platforms is often an attractive alternative for customer acquisition and value creation.
The Yorn brothers’ entertainment advisory firms, LBI Entertainment and Yorn Levine, represent many of the most iconic names across film, television, sports and music, putting BroadLight in a unique position to facilitate impactful partnerships.
BroadLight recruited former TCV and Wellington investor Landon Jaussi, who has joined the team as a Partner.
The firm has approximately ninety percent of the fund undeployed.
To find out more, please visit broadlightcapital.com.