US-based digital advertising agency Rockfish has launched a corporate venturing division to invest in nascent businesses developing digital technology in consumer internet, mobile and retail sectors and complement its existing incubator.
Rockfish Brand Ventures will provide 10 start-ups with capital over the next one to two years, as well as technology and marketing support with the aim of improving the marketing return on investment of its clients. Rockfish clients will have first access to its portfolio companies for marketing and potential co-investment.
Kenny Tomlin, founder and chief executive of Rockfish, said: "Brand Ventures is another component of what we believe it means to be a digital innovation partner.
"It will help us expand our commitment to incubating new companies by creating a unique fund for investing alongside our clients in the businesses of other entrepreneurs."
In the past five years, Rockfish said it had incubated and launched more than 10 brands and proprietary technologies, such as PlayNextLevel, TidyTweet, Silver Joe’s Coffee, Fourthbook, CrazyHotlob, Filesend.us, Genofish and Mind of Moms.
Rockfish Brand Ventures will have six employees on its investment committee and an advisory board, which includes Carl Everett, who was most recently a partner at venture capital firm Accel Partners and previously at computer groups Dell and Intel’s corporate venturing units. Everett’s deals have included Rambus at Intel and the Chinese internet portal Sina.com at Dell.
Rockfish clients include consumer groups Walmart, Sam’s Club, Procter & Gamble and Tyson Foods and computer company Cisco.
Other advertising firms with corporate venturing units include WPP, Publicis and Interpublic, with several others expected.