MADRID — Mediaset Spain and Mediaset Italy have joined forces to create Ad4dventures, a digital ventures fund offering communication and advertising support for digital and technology start-ups with "strong growth potential" in exchange for an equity stake or revenue sharing.
Mediaset said that new ventures often failed or were absorbed by foreign investors due to lack of resources and that Mediaset could help by providing communication and promotional support through its media outlets and distribution channels.
"We’re hoping to support in a very concrete way the enterprising and positive spirit that today, more than ever, is necessary for the recovery of our country," said Giuseppe Tringali, the CEO of Mediaset Spain’s advertising division Publiespana.
But Ad4dventures, which will launch Monday, also looks like a stab at a diversification and strategy rethinking coming on the heels of the group’s first year-end loss in 17 years.
Based in Milan and Madrid, the venture fund will focus on start-ups that are well positioned for growth.