Kevin Hart Launches New Media Venture With $100M Investment From Private Equity Backers

April 27, 2022 by in Film with 0 Comments

Kevin Hart Launches New Media Venture With $100M Investment From Private Equity Backers

Good news for Kevin Hart!
The 42-year-old comedian/actor  launched a new media company called HartBeat, with a $100 million investment from private equity firm Abry Partners. Reportedly, Abry Partners– which focuses on investments in the media, communication and information services space– took a minority stake in the company at an undisclosed valuation. The new venture is a combination of Kevin Hart’s two production companies, Laugh Out Loud and HartBeat Productions. Sources say Hart plans to use the investment to hire more employees, grow the existing brands within the new enterprise and develop new content.

Kevin Hart

Kevin Hart had this to say about the new venture:

“The creation of HARTBEAT and our capital raise with Abry represent a new era in comedy. This all started out with a mission to keep the world laughing together, and I’m so proud our teams have delivered on that, putting in the hard work to build the most innovative and inclusive comedic storytelling company.”

In addition to its partnership with NBCUniversal’s Peacock, HARTBEAT reportedly has a film deal with Netflix, a partnership with SiriusXM and a deal with Audible and Charlamagne Tha God. According to reports, the company already has more than 60 projects currently in development, including Me Time on Netflix with Mark Wahlberg and Regina Hall, Storytown on HBOMax and Heist. 

Regina Hall

Charlamagne

Sources say the leadership team at Hartbeat Productions and Laugh Out Loud will remain in place, with Kevin Hart acting as chairman and Thai Randolph– formerly the chief operating officer of both operations– being promoted to chief executive.

Congratulations to Kevin Hart! What are your thoughts? Let us know in the comments below!

[Source: 1, 2 ]

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Authored by: Monique Nicole

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