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Welcome to the State of Global Media for Growth Funding

Global Media for Growth Ecosystem defined
Data-led Insights into the Global Media for Growth Funding
Start-up Case Studies
Investor Interviews
Media for Growth Start-up Readiness Tool

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About the report

The aim of this report is to collect useful information and opinion from media for growth funds, VCs and founders who have raised such funding and present it in a clear and helpful format. Overall we analysed the data of 382 unique investments where companies were founded in 2000 or later.

We also sought to identify and demystify the most widely held beliefs holding back the ecosystem.

This first global edition on The State of Media for Growth Funding sheds light on the following:

  • Evolution of media for growth funding over the past two decades & fund types
  • Performance review of start-ups who raised media for growth funding [+case studies]
  • What media for growth funds are looking for; challenges & opportunities lying ahead
  • Useful and practical information for founders around fundraising and deal terms [+ Media for Growth Startup Investment Readiness Tool]


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Featured in

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Record Growth Drives New Milestones

Media for growth funding is a relatively new financing option that provides high-growth startups with media services and advertising such as television, print, radio, and online, in return for equity or revenue share. Ten years ago, there were fewer than a handful. Today, there are more than 30 specialised funds.

Download the report to learn more about the evolution of media for growth funding and some of the factors that are fuelling the growth of this financing option.

Media for Equity funds timeline since 1996

How Do Regions Compare

Aggregate Media in Sweden was the pioneer of the media for growth model in Europe, followed by Seven Ventures, Ströer’s Media Ventures, and German Media Pool in Germany. On the other side of the globe, The Times Group, the largest media group in India, has been accelerating start-ups using advertising since 2005. Their portfolio amounts to over 1,000 deals.

Read more about new emerging funds operating in Southeast Asia, LATAM and North America in the report.

Some of the World's Leading Brands Have Raised Media for Growth Funding

In the last two decades, over 1,000 start-ups raised media for growth funding. The benefits of this type of model are customer growth, increased brand awareness, customer data, and guidance from media groups, all without having to spend cash.

The Role of Media for Growth Funding in a Start-up Growth

Timing is everything, and the amount of time it takes startups to raise money is crucial. Media for growth funds deliver immense value to start-ups because of their ability to provide not only advertising but know-how and talent, and to attract investors - resulting in higher rounds of funding.

Start-ups backed by both media and VC investors reached the exit round (via IPO) 32 months faster than traditional venture-backed startups.

The Role of Media for Growth Capital in a Start-up Fundraising Journey

According to CrunchBase data, the average successfully acquired U.S. start-up has raised $29.4 million and sold for $155.5 million. Based on our analysis, there are 87 start-ups that formerly raised media for growth funding and were acquired. On average these companies raised $83 million pre-acquisition.

Media for growth-backed start-ups raise on average 3x more funding than other startups.

Read on...we have many more insights to share with you.


Neville Taraporewalla

Neville Taraporewalla

President @ The Times Group North America

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Chris Sheldrick

Chris Sheldrick

Co-founder & CEO @what3words

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Scott van den Berg

Scott van den Berg

CEO @ Influencer Capital

Open Testimonial
Kelvin Tan

Kelvin Tan

CEO @ Origin Capital Management

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Boris Hodakel

Boris Hodakel

CEO & Founder @ FEEL

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The State of Global Media for Growth Funding 2022 - 2023

Dive into the report

This report is intended for the start-up and investment community and aims to help especially founders, and venture capitalists to gain insights to this financing model.

Download your free copy