Wealthy Tech Heir, Son of a Billionaire, Secures $30 Million to Advance Varied Narratives in Cinema
In a significant move, HarbourView Equity Partners, a Black-woman owned private equity firm, has announced its expansion into the media investment space with a strategic investment in Lion Forge Entertainment, a Black-owned studio.
Based in Los Angeles, HarbourView Equity Partners, founded by David Steward II, the son of billionaire tech entrepreneur David Steward, has accumulated around $2.67 billion in regulatory assets under management. The firm has acquired over 70 music catalogs and boasts a diverse portfolio that includes music from artists like T-Pain, James Fauntleroy, George Benson, Noel Zancanella, Fleetwood Mac's Christine McVie, Pat Benatar, Neil Giraldo, Nelly, Jeremih, Wiz Khalifa, Kane Brown, Full Force, and more.
The private capital for Lion Forge Entertainment was provided by HarbourView Equity Partners, with additional investments from the Steward Family and Polarity, who remain the majority owners of the studio. This investment marks a significant step for Lion Forge, which develops and produces live-action and animated films, television series, and consumer products.
One of Lion Forge's notable projects is the animated fantasy series, Iyanu, airing on Cartoon Network and Max. The studio also earned an Academy Award for Hair Love.
Beyond business, David Steward has invested in diversity initiatives. He has sponsored NASCAR driver Bubba Wallace and supported equity efforts in the National Hockey League. Through his family's foundation, he has also funded community programmes.
In 2024, David Steward became the wealthiest Black man in America, with an estimated net worth of $11.4 billion. Under his leadership, World Wide Technology (WWT), which he founded, has grown into the largest Black-owned business in the US, generating more than $20 billion annually, including $6 billion from international markets.
The $30 million funding led by HarbourView Equity Partners for Lion Forge Entertainment is part of the firm's latest push into film and television IP. Apollo Global Management supports HarbourView Equity Partners in its endeavours.
Sherrese Clarke, former CEO of Tempo Music, established HarbourView Equity Partners in 2021. With this strategic investment, HarbourView Equity Partners continues to strengthen its position in the media industry, promising an exciting future for both HarbourView and Lion Forge Entertainment.
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