Sir Martin Sorrell eyes ad tech with new £110m venture capital fund
Advertising boss Sir Martin Sorrell is launching a £110m venture capital fund aimed at start-up ad tech companies as he seeks to capitalize on new start-ups entering the sector.
Sorrell, managing director of S4 Capital and former boss of advertising giant WPP, is launching the fund with investor Daniel Pinto and former WPP executive Sanja Partalo, The Sunday Times reported today.
Sorrell and Pinto are expected to inject $15 million of their own money into the fund and serve on the investment committee.
Partalo, a former head of strategic development at WPP, will lead the fund which would target ad technology, data analytics, content development and new digital media and tap into companies developing ad services for new platforms like the Metaverse. , according to reports.
Sorrell told The Times that S4 didn’t want to commit capital to technology and “take the technology risk” and felt a venture capital fund was a more appropriate vehicle for investing in start-up companies.
He said, “We thought there was an opportunity to leverage our VC knowledge. We have 7,500 people in 33 countries.
Sorrell founded S4 Capital in 2018 after he was ousted from WPP following allegations of wrongdoing.