Eldridge Industries

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Eldridge Industries, LLC
TypePrivate investment
Founded2015; 7 years ago (2015)
FounderTodd Boehly
HeadquartersGreenwich, Connecticut, U.S.[1]

Eldridge Industries LLC is a holding company headquartered in Greenwich, Connecticut, with offices in New York, London, and Beverly Hills.[2] Eldridge makes investments in various industries including insurance, asset management, technology, sports, media, real estate, and the consumer sector.[3][4][5][6]


Eldridge was formed in 2015 by CEO and Chairman Todd Boehly, President Anthony D. Minella, and General counsel Duncan Bagshaw,[7][8] after Boehly purchased Dick Clark Productions, Billboard and The Hollywood Reporter, and Mediabistro from Guggenheim Partners.[5]

Eldridge owns CBAM Partners, an SEC-registered investment advisor.[9] In 2019, Eldridge increased its investment in Maranon Capital, an investment manager, resulting in Eldridge holding a majority ownership stake in the company.[10]

In December 2020, Eldridge provided financing to Ark Invest, allowing ARK founder Cathie Wood to remain majority shareholder of the company.[11]

In January 2021, the College of William & Mary announced that it had partnered with Eldridge to develop a series of courses related to fiscal policy at the Mason School of Business.[12]

In 2021, some of Eldridge's credit management operations spun out to create Panagram Structured Asset Management.[13]

Horizon Acquisition Corporation[edit]

Eldridge's special-purpose acquisition company Horizon Acquisition Corporation was founded in June 2020.[14] The company filed for a blank check IPO of $575 million in August 2020.[15] Horizon Acquisition Corporation II, an SPAC focused on media and entertainment, in August 2020.[16]

In March 2021, Eldridge's Horizon Acquisition Corporation III filed for a $500 million IPO.[17] Horizon Acquisition Company acquired ticket reseller Vivid Seats in April 2021.[18] The company merged with Vivid Seats,[19] which went public as Vivid on October 19, 2021. Vivid is traded on the Nasdaq and NYSE.[20]


In March 2017, Eldridge led a round of funding estimated at over $100 million for DraftKings, a daily fantasy sports contest provider.[21][22] DraftKings purchased a stake in Vivid from Eldridge, when the company went public in October 2021.[23] Eldridge also has a stake in the Los Angeles Dodgers;[24] Chavez Ravine, the acreage around Dodger Stadium;[25][26] Cloud9;[27] and Atrium Sports;[28]

In December 2021, it was announced that Eldridge's CEO Todd Boehly was heading an ownership group in negotiations to purchase a controlling interest in the Washington Spirit.[29]


Eldridge has invested in fintech companies PayActiv, Stash and Truebill.[30] In February 2021, Stash reached a value of over $1.4 billion.[31]

Eldridge has invested in technology companies Capital Integration Systems (CAIS),[32] Digital Asset,[33] and Cutover.[34] In 2021, Eldridge participated in multiple funding rounds for digital delivery service Gopuff, including the company's $1.1 billion financing round.[35]

In July 2020, Eldridge invested in a $53 million fundraising round for Kernel, a Los Angeles-based neurotechnology company.[36]

Eldridge took part in a $475 million financing round for artificial intelligence company Dataminr.[37]

The firm provided financing to Prescient, a building technology platform, for $50 million in July 2018.[38] Eldridge committed an additional $40 million in funding for the company in June 2020 for a total of $90 million.[39][40] Eldridge led a $190 million strategic investment into Prescient in 2021.[41]

Eldridge acquired data technology company Knoema in 2020.[42] Eldridge has invested in The Ready Games and mobile game developer Tripledot Studios.[43][44] Eldridge held a stake in Epic Games which was sold back to Epic in 2021.[7]

Eldridge has made multiple investments into Truebill, including participating in a $45 million funding round in 2021,[45] after leading a Series B round in 2019.[46] Eldridge participated in a $235 million in AI security company AnyVision in July 2021, after previously investing in the company in 2018.[47]

Eldridge invested in digital health platform Wellthy in May 2020, and participated in a $35 million Series B funding round for the company in June 2021.[48] Eldridge also participated in a $62 million investment round for fertility services company Kindbody.[49] Eldridge also acquired sporting goods producer G-Form, which produces Smart-Flex athletic gear.[50]

In November 2021, Eldridge participated in a $30 million investment round for artificial intelligence company Netomi.[51] The company also led a $600 million debt funding round for Digital Currency Group.[52]

Consumer industry[edit]

In 2017 Eldridge acquired, with a co-investor, Pittsburg-based NPC International, LLC, the largest franchisee of Pizza Hut (part of Yum Brands), and Wendy's.[53] On July 1, 2020 NPC filed for Chapter 11 bankruptcy.[54]

Eldridge has backed hospitality group Aurify Brands since it was founded in 2011.[55] Eldridge invested in international bakery-restaurant chain Le Pain Quotidien through Aurify in March 2021.[56] Eldridge also invested in pizza restaurant chain Chuck E. Cheese.[57]

Thirteenth Floor Entertainment Group, an operator of horror-themed entertainment venues and escape rooms, is partially owned by Eldridge.[58][59] Eldridge was part of a group of creditors who invested $1.2 billion in Canadian company Cirque du Soleil in 2020.[60]

Eldridge invested in virtual reality entertainment company Illuminarium Experiences, as part of a $100 million investment.[61] The company led a $3.4 million funding round for food delivery marketplace Sesame in December 2021.[62]

Real estate[edit]

Eldridge owns Stonebriar Commercial Finance, a large ticket commercial finance and leasing company,[63] and co-owns Cain International, a London-headquartered real estate firm which owns The Beverly Hilton and Waldorf Astoria Beverly Hills.[64][65][66]

Eldridge seeded Essential Properties Realty Trust, a REIT that went public in June 2018.[67] In October 2019, Eldridge invested $300 million in real estate investment company Kennedy Wilson.[68] Eldridge committed €1 billion to Blackbrook Capital, an independent European real estate investment firm, in March 2020.[69][70]

In December 2021, Eldridge acquired a minority interest in Langdon Park Capital, a Black-owned real estate investment company."[71]


Eldridge owns Security Benefit Life Insurance, an insurer with $40 billion in assets.[24] The firm also owns SE2, a technology platform for insurance companies.[72][73] In 2019 SE2 and Life.io launched an integrated life insurance and annuity platform, SE2 Digital Engage.[74]

Eldridge invested in DPL Financial Partners in January 2021.[75] That year, Eldridge invested in PPRO Financial and Clearcover Insurance.[76][77] Hudson Structured Capital Management refinanced in 2021, with Eldridge as its principal backer.[78]

Media holdings[edit]

In 2015, Eldridge put some of its media properties up for sale, including Adweek and the Clio Awards.[79] Adweek was sold a year later to Beringer Capital.[80] The Clio Awards, a 58-year-old ad industry event, was sold to investment company Evolution Media in 2017.[81]

In December 2016, Billboard-Hollywood Reporter Media Group purchased the music publications Spin, Stereogum and Vibe from SpinMedia for an undisclosed amount.[82]

In February 2018, Eldridge announced it would be consolidating three of its entertainment properties into a new company, Valence Media,[83] which rebranded as MRC on July 20, 2020.[84] The properties included Media Rights Capital, a film and television studio which created Netflix shows Ozark and House of Cards;[85][86] Dick Clark Productions; and the Billboard-The Hollywood Reporter Media Group.[87][88][89]

MRC's co-founders Asif Satchu and Modi Wiczyk serve as co-CEOs and Boehly serves as Chairman.[88][90] MRC also owns a minority stake in film distributor A24;[89] and London-based production company Fulwell 73.[91][24]

In 2018, Eldridge also became a partner for the Global Citizen Festival, which was held in South Africa to honor the life and legacy of Nelson Mandela in his centenary year.[92]

In December 2019, Valence acquired Nielsen Holdings' music data business.[93]

In January 2020, MRC sold music publications Spin and Stereogum to Next Management Partners.[94]

In November 2020, Eldridge acquired the music publishing rights to American rock band The Killers, covering the band's first five albums. Universal Music Publishing Group will continue to administer the catalogue.[95]

In September 2020, it was announced that Penske Media Corporation and MRC would form a joint venture named PMRC. The new venture manages the daily operations of publications such as Billboard, The Hollywood Reporter, Vibe, Variety, Rolling Stone and Music Business Worldwide.[96] A second joint venture between MRC and Penske was also announced, to manage content and intellectual property such as television series, films, and live events including South by Southwest.[97]

Eldridge led a $3 million funding round for Laylo, a startup fan engagement platform, in 2021.[98]

In December 2021, Eldridge partnered with Sony Music Group to finance the acquisition of Bruce Springsteen's recorded music and songwriting catalogue.[99] The deal, which was estimated to be between $500 million and $600 million, was reportedly the largest transaction for an individual artist's music rights to date.[100]


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External links[edit]