MNC Ventures, the venture capital investment arm of independent media agency MNC, has taken a stake in Native, a media and marketing network that aims to connect brands to university students.
It is the first investment by MNC Ventures. Terms of the deal were not disclosed.
In February, MNC acquired Grwth, a consultancy and venture capital fund focusing on the consumer brand market, subsequently rebranding the effort under MNC’s umbrella and kicking off an investment drive.
Native is a media and marketing network aiming to connect brands with nearly 3m university students by partnering with students’ unions across different campuses.
The company operates as both a media partner and a campaign planning specialist. Its Campus Media platform claims to provide brands with data-driven insights to help improve their on-campus presence through a variety of activations, from digital marketing to programmatic digital OOH.
Native’s clients have included the likes of Redbull, Go Puff, Lloyds Bank, PureGym and Domino’s.
Joe Benn, MNC’s director, commented that the investment “sits naturally with MNC’s expertise in media strategy for challenger brands and our deep expertise in enabling exciting challenger businesses to grow”.
“Native’s drive to modernise the student ecosystem made it a natural first investment from our fund,” he added.
In an interview with The Media Leader earlier this year, MNC CEO Luke Bristow, who The Media Leader understands has recently departed the company, explained that its VC fund would primarily be used to fund Seed- and Series A-stage businesses — the same types of challenger brands that its media business often seeks to represent. However, the fund will not necessarily support all brands MNC is working with, nor will it only be limited to investing in MNC clients.
“It’s a great way for us to not only just have an exciting, external-facing proposition, but actually for us to put our money where our mouth is,” Bristow said.
Native founder Nick Musto added he was “thrilled” to welcome MNC Ventures’ investment and that its backing will help it scale its platform and deepen relationships with brands and universities.
“Our mission has always been simple,” he said. “To make sure that every student has the university experience they deserve — one that’s vibrant, connected and full of opportunity.
“With MNC’s support, we can help even more brands play a positive role in shaping the experience — while building trust, brand love and long-term relevance with valuable Gen Z audiences”.
An indie’s journey into VC — with MNC’s Luke Bristow
Editor’s note: This article has been updated after publication. The Media Leader has learned that MNC CEO Luke Bristow has recently left the company.
