*Comedian Kevin Hart reportedly raised $100 million from private equity firm Abry Partners to launch a new media company HARTBEAT.
The new venture is a combination of his two production companies, Laugh Out Loud and HartBeat Productions, per The Hollywood Reporter. According to the outlet, Hart plans to use use the funding to grow the brand, hire more employees, and develop new content.
“The creation of HARTBEAT and our capital raise with Abry represent a new era in comedy,” Hart stated. “This all started out with a mission to keep the world laughing together, and I’m so proud our teams have delivered on that, putting in the hard work to build the most innovative and inclusive comedic storytelling company.”
READ MORE: Chris Rock and Kevin Hart to Co-Headline Comedy Tour
It’s go time!!!! #HartBeat https://t.co/BU7fMvpycY
— Kevin Hart (@KevinHart4real) April 26, 2022
Hart’s Laugh Out Loud has a partnership with NBCUniversal’s Peacock, and we reported earlier that HARTBEAT has a film deal with Netflix, as well as a partnership with SiriusXM and a deal with Audible and radio host rCharlamagne Tha God.
Last year, Hart inked a deal with Netflix that will see him starring in at least four films produced through his HartBeat Productions. According to Deadline, the agreement also includes a first-look film producing deal for the comedy. The pact comes after Hart’s comedy special, “Zero F**ks Given,” turned out to be Netflix’s biggest comedy film in 2020.
“Partnering with Netflix is an amazing opportunity for HartBeat and myself,” Hart said. “I am excited to act in and produce cutting-edge films with Netflix. I am extremely grateful to [Netflix executives] Ted Sarandos and Scott Stuber, we share the same creative vision and always put the audience first. This business is about growth and my HartBeat team continues to exceed my expectations with their ability to develop stories and relationships. Our goal is to make the HartBeat name synonymous with first-class entertainment and narratives.”
Per THR, Hart’s company has more than 60 projects currently in development, including “Me Time” on Netflix with Mark Wahlberg and Regina Hall, “Storytown” on HBOMax and “Heist” by director F. Gary Gray.
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