News Corp, Fox Sports and Nova Entertainment launch media for equity fund

News Corp has partnered with Fox Sports and Nova Entertainment to establish a dedicated media for equity fund that aims to provide a boost to start-up businesses hoping to become a household brand.

The Scaleup Mediafund will give Australian start-ups access to an advertising and marketing inventory to take their message to an audience in exchange for equity.

scaleup mediafund

News Corp Australasia’s executive chairman Michael Miller said in a statement: “There is a tipping point for all growing companies when they need to spread their message more widely to take the next step in their success. We believe in Australian ingenuity and we are delighted to be able to offer Australian innovators the opportunity to take their business to the next level.

“Many companies that could be great spend years of hard work refining products and taking risks, only to stall at a certain point. This fund had been established to help such businesses achieve critical mass by taking their services and products to millions of people.”

The fund will work directly with businesses and venture capital to provide advertising inventory, advertising campaign executions and real-time reporting in exchange for equity, with the fund set to do a limited number of deals each year.

Companies will be assessed based on their potential to scale their business, the existing traction with current customers and if the product or service is solving a real problem.

Fox Sports chief executive officer, Patrick Delaney, said: “If I were a young entrepreneur and had the chance to use the promotional power of Fox Sports to grow my venture I would be bloody excited. Let’s go!”

Nova Entertainment chief executive officer, Cathy O’Connor, said:”Nova Entertainment has a strong commitment to innovation and is proud to join Scaleup Mediafund to help build new Australian businesses through the power of our radio brands Nova and smoothfm.”


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