Brand Transformation Agency Phenomenon Announces Majority Investment From Berggruen Holdings
Berggruen Holdings and Sleeping Bear Capital to provide growth and expansion strategy support to position Phenomenon as world-class, prototype agency business model
July 24, 2019 09:01 AM Eastern Daylight Time
LOS ANGELES--(BUSINESS WIRE)--Phenomenon, a leading business transformation agency offering deep expertise across a range of disciplines: business & strategic consulting, creative, design, innovation, products & services and communications, today announced a strategic majority investment from Los Angeles-based Berggruen Holdings and San Francisco-based Sleeping Bear Capital, the first-of-its-kind for both firms.
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Both firms’ initial investment in the creative consulting category will serve as a catalyst for add-on acquisitions of companies offering social marketing, AI-based marketing tools, and strategic media planning that would be integrated under the Phenomenon umbrella. These acquisitions will also be used to elevate, expand and substantiate the company’s creative transformation offerings.
“This is a first-of-its-kind partnership between Berggruen and Sleeping Bear Capital to leverage a platform like Phenomenon as a revolutionary and creative business model focused on action, not just ads,” said Krishnan Menon, CEO and founder of Phenomenon. “We believe we’ve cracked the code on the ‘agency of the future’ through our seamless integration of communications, creative, design, product development and brand strategy.”
"We are excited to be partnering with Phenomenon to build the next generation change management platform,” said Koonal Gandhi, chief investment officer at Berggruen Holdings. “As long-term private equity investors, we believe that the need for brand transformation services is more critical than ever before. We plan to use Phenomenon's unique platform as the base of several acquisitions to come."
"Phenomenon is one of the very few companies we've come across that has the creativity and tools to authentically and powerfully transform the brands of tomorrow,” said Ranvir Gujral, managing partner at Sleeping Bear Capital. “This arsenal is exciting for us as it is essential to affecting change across rapidly evolving business landscapes. As established brands look to keep pace with culture and as new challenger brands look to find their place in the world, Phenomenon's caliber of integrated offerings will be in high demand."
For more information, you can visit Phenomenon on www.phenomenon.com.
Phenomenon is a business transformation agency offering strategic deep expertise across a range of disciplines: business & strategic consulting, creative, design, innovation, products & services and communications. Founded in 2006, an independently owned Phenomenon partners with clients to define unexpected pathways to success. Current clients include Crate and Barrel, CB2, DC Entertainment, Warner Bros., Stash Tea, KB Home, Pepsi, PetSmart, Procter & Gamble, American Express, Aetna, Providence St Joseph Health, TD Ameritrade and Quibi. Find out more at www.phenomenon.com.
About Berggruen Holdings
Berggruen Holdings is the investment vehicle of The Nicolas Berggruen Charitable Trust. Over the last 20 years, Berggruen Holdings has made well over 100 investments using its own proprietary capital, which has allowed for longer investment horizons, flexibility in financing, and swift investment decisions. The private investment firm was founded by its Chairman Nicolas Berggruen, a philanthropist and investor. For more information, visit www.berggruenholdings.com.
About Sleeping Bear Capital
Sleeping Bear Capital is a founder-first private equity firm that invests in business unit spinouts and venture-backed technology, eCommerce, and business services companies seeking new capital to reach their fullest potential. It was founded by long-time entrepreneur and private equity investor, Ranvir Gujral, when he recognized a void for funding options for companies at this life stage. More info: www.sleepingbearcap.com.
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