CAA launches $100 million venture with Silicon Valley firm to finance post-pandemic projects

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CAA and New Enterprise Associates formed Connect Ventures, which aims to support early-stage businesses centered in commerce, content and media. It's the latest move by agencies to diversify beyond the talent representation business.

Connect Ventures’ first investment is in Spire Animation Studios, a feature animation studio founded by and P.J. Gunsagar, who cofounded Los Angeles-based Prana Studios and multiple other tech-based media companies.

The studio also wants to create next-generation technology that helps smaller production teams work more closely together. With $5 million raised and plans to open an office in Los Angeles, Spire Studios expects to release its first animated feature film in 2023.“The animation industry is ready for a new voice in feature animation.

Spire Studios said it aims to attract talent from diverse backgrounds to “tell stories with depth and distinct vision.” Last week, CAA hosted a

 

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