MXP Ventures announces $10m venture capital fund to propel next-gen of agency startups
Global incubator MXP Ventures announced the establishment of a $10 million venture fund to invest in new agency startups globally. The fund will focus on building and rapidly scaling new agencies across the marketing services spectrum.
MXP Ventures is a joint venture between agency entrepreneurs Tilo Bonow, founder and CEO of Berlin-based PIABO, and Michael Young, founder of Millwright Holdings. MXP Ventures will provide seed investments and growth capital for founders at the intersection of technology and data-driven PR, marketing, social, content, digital, paid media and influencer communications.
Tilo Bonow, General Partner, MXP Ventures: "We are first to take the incubator and venture model and apply it to the agency business. We are agency founders investing in other agency founders. We want to help those who are trying to change the world through innovative thinking. We are uniquely positioned to help build their businesses quickly with our experienced team."
Michael Young, General Partner, MXP Ventures: "The past 18 months have ushered in a new golden-age for independent agencies and the incubator/venture model aligns with our belief that the future belongs to fiercely independent agencies. There are many senior-level people who want to start an agency but just need the right kind of support. MXP will arm the rebels to start a revolution."
MXP Ventures provides:
- Funding to get agency concepts up and running
- A global leadership team and agency network
- Turnkey staffing and new business opportunities
- Complete back office support for HR, finance, IT
- Expertise/knowledge transfer and mentorship
- Immediate salary, bonus, profit sharing and equity participation