According to a recent study from Adobe, one of out four people on the planet is contributing to the creator economy. The massive boost of people looking to diversify their income streams came as a result of the pandemic, leading to an increase in 165M people globally now engaged in this nascent market, fueled by access to affordable equipment and platforms. While this market has grown to $100B+ per year in revenue, competition is intensifying as creators look for ways to increase distribution and revenue. Goldenset Collective is a platform that’s looking to power digital creators by investing both cash and services to propel talent-led businesses. The company has already invested $1M in capital across seven different creators, helping them with a range of functions including scaling, monetization, product launches, and even back-office responsibilities. By taking an equity stake in the creator businesses it backs along with revenue sharing agreements, Goldenset aligns incentives for mutual success while providing creators the vetted resources of a centralized platform and support network consisting of some of the leading minds in the creator economy.
LA TechWatch caught up with Goldenset Collective Cofounders Darren Lachtman and Nick Millman to learn more about the business, the company’s strategic plans, recent round of funding, and much, much more…
Who were your investors and how much did you raise?
Goldenset Collective announced its $10M Seed round led by A.Capital and Lerer Hippeau with participation from Kevin Durant’s Thirty Five Ventures.
Tell us about your product or service.
We are a new platform making equity investments in digital creator businesses. In exchange for stakes in talent-led businesses, Goldenset is investing both cash and services to help scale these nascent companies.
What inspired the start of Goldenset Collective?
The evolution of the creator economy from merely garnering attention and followers to seeing creators launch 9-figure businesses.
How is it different?
We offer equity and services versus debt.
What market you are targeting and how big is it?
Entire content creator market, infinite.
What’s your business model?
Invest capital into creators in exchange for equity and percentage of revenue share.
How are you preparing for a potential economic slowdown?
We run as a very lean company and are thoughtful with how our capital is deployed
What was the funding process like?
We had an oversubscribed round led by investors in our previous two companies.
What are the biggest challenges that you faced while raising capital?
Fortunately, we had a smooth fundraising process!
What factors about your business led your investors to write the check?
We can’t speak on behalf of our investors.
What are the milestones you plan to achieve in the next six months?
We want to continue to build our partner network and become a key destination that creators turn to for raising capital.
What advice can you offer companies in Los Angeles that do not have a fresh injection of capital in the bank?
Continue to stay focused on your mission and on hitting milestones that will attract investors.
Where do you see the company going now over the near term?
The goal is to stay lean but we expect to grow to 10 people this year.
What is your favorite restaurant in LA?
Gigis.
