(BPRW) MAC VENTURE CAPITAL CLOSES STARTUP AMP GLOBAL TECHNOLOGIES BOOT TOUR WITH $2 MILLION CONFIDENCE VOTE | Press Releases
(BPRW) MAC VENTURE CAPITAL CLOSES STARTUP AMP GLOBAL TECHNOLOGIES SEED ROUND WITH $2 MILLION CONFIDENCE VOTE
Game-Changing VC Backed by Hollywood’s Hottest New Studio Backs Africa’s First Blockchain-Based Entertainment Platform
(Black PR Wire) Global – MaC Venture Capital – a Los Angeles-based seed-stage VC that invests in visionary founders – has just closed a $5.6 million funding round for African startup AMP Global Technologies , with a healthy investment of $2 million. MaC is affiliated with entertainment juggernaut MACRO, which has garnered 15 Oscar nominations and 3 wins since its inception in 2015.
Ghanaian-born, Harvard-educated AMP Global Founder and CEO Derrick N. Ashong created the company’s Take Back the Mic (TBTM) platform, powered by an Ethereum-enabled blockchain, to reward fans and creators for building movement around great content. Fans earn points on the platform which they can redeem for digital currency that buys them mobile data. Africa has the highest mobile data prices in the world, making it harder and more expensive for young people to get online.
As a proof of concept for the company’s technology, Ashong has leveraged his experience working for the biggest names in entertainment, including Oprah Winfrey, Steven Spielberg and ABC-Disney, to create an original interactive content property that has rewarded fans and artists for using the TBTM platform. to start the show. The web series became two Emmy finalists for “Outstanding Interactive Program”.
Ashong then turned that initial success into a full-scale mobile video service in his home continent of Africa. Streamed and curated by Take Back the Mic (TBTM) users, The microphone: Africa The interactive TV series defied the Covid pandemic in its inaugural season, filming simultaneously in six countries with local filmmakers and winning the 2021 Gold & Silver Telly Awards, beating Netflix, HBO and Disney+. Season 2 added Ethiopia, Morocco, Senegal, and Tanzania to the six home countries of Ghana, Kenya, Mauritius, Nigeria, Rwanda, and South Africa, and expanded its reach broadcasting from nine to over 20 countries, while also streaming on the TBTM mobile platform. . AMP Global Technologies went on to win a Murex D’Or award in March 2022 for International Innovative Media at the “Middle East and North Africa Oscars”.
“MaC was literally our number one pick, so getting that vote of confidence from them means the world,” Ashong said. “[MaC Managing General Partner] Marlon Nichols’ impact on Silicon Valley cannot be overstated, while [General Partner] Charles D. King’s influence in Hollywood needs no introduction. As a company at the crossroads of technology and entertainment, we are honored and delighted to work side by side with our models. »
Commenting on his decision to lead MaC’s investment in AMP Global Technologies, Nichols said, “The decision to partner with AMP Global Technologies was simple. AMP is a unique platform that not only leverages blockchain technology to inspire users to access and engage with award-winning content through its play-to-win model, but it also champions and provides monetization opportunities for creators, distribution partners and global brands. I am proud to work alongside a team that focuses on the mutually beneficial relationship between technology, culture and entertainment. ”
About AMP Global Technologies
AMP Global Technologies is building the world’s first blockchain-based video entertainment platform, Take Back the Mic (TBTM), which rewards creators and fans for creating movements around great content. Their flagship program, the interactive talent competition and documentary series, The mic, earned 2 Emmy Award nominations, 2 Telly Awards (Gold & Silver) against Netflix, HBO and Disney+, and a Murex D’Or Award, as well as nearly 1 billion worldwide media impressions and 5 panels Times Square billboard in New York. AMP Global has just opened its Dubai office, adding to its presence in Hollywood, Buenos Aires and Mauritius, East Africa.
About MaC Venture Capital
MaC Venture Capital is an early-stage venture capital firm that invests in technology startups by leveraging shifts in cultural trends and behaviors. Our diverse backgrounds in technology, business, government, entertainment, and finance allow us to accelerate entrepreneurs to the brink of their breakthrough. We provide crucial hands-on support for building and scaling category-leading businesses, including operational strategy, brand building, recruiting, and mission-critical introductions.
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