MXP Ventures has formed a $10 million venture fund that will invest in new agency startups. MXP Ventures is a a joint venture between agency entrepreneurs Tilo Bonow, founder and CEO of Berlin-based PIABO, and Michael Young, founder of Millwright Holdings.
SAN FRANCISCO and BERLIN, Oct. 4, 2021 /PRNewswire/ — MXP Ventures today announced the establishment of a $10M 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.
“We are first to take the incubator and venture model and apply it to the agency business,” said Tilo Bonow, General Partner of MXP Ventures. “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.”
“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,” said Michael Young, General Partner of MXP Ventures. “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.”
About MXP Ventures
MXP is the global incubator, venture fund and investor in PR and marketing agencies. We work with agency founders looking to start and scale their own PR/marketing/digital agency. We invite agency professionals around the world to present their agency concepts. For more information, please visit mxp.ventures.