Innovative Artists Raises Cash From Private Equity Firm Coral Tree in Expansion Push

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The talent and literary agency Innovative Artists is raising outside cash for the first time.

Innovative, under the guidance of its founder and CEO Scott Harris, recently secured funding from Coral Tree Partners, a private equity firm specializing in media and entertainment investments. This marks the first time in Innovative’s 42-year journey that it has brought on an external strategic partner, led by partner Will Wynperle from Coral Tree Partners.

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Innovative, headed by Scott Harris (founder and CEO), has received unspecified funding from the private equity firm Coral Tree Partners, known for investing in media and entertainment businesses. This is a first as Innovative, after 42 years in operation, has taken on an external strategic partner under the leadership of Will Wynperle from Coral Tree Partners.

Innovative asserts that the funding will empower the agency with extra tools to foster the company’s potential advancements and geographical expansions. Harris and his squad will remain at the helm of the agency.

1982 saw the establishment of Harris & Goldberg by Harris and Howard Goldberg. In 1992, this company underwent a rebranding process, transforming into Innovative Artists, which coincided with its geographical expansion to New York.

Innovative encompasses a diverse range of talents within the entertainment industry, spanning actors, comedians, scriptwriters, and voice artists among others. This agreement arrives at an intriguing juncture for talent agencies and the wider film industry in Hollywood.

Earlier this week, Endeavor transitioned to private ownership after spending four years in public markets. On the other hand, CAA, previously owned by private equity, was sold to Artémis, an investment firm led by François-Henri Pinault, the CEO of Kering – a luxury goods empire. Notably, UTA also secured private equity funding and witnessed its co-founder and CEO, Jeremy Zimmer, stepping down from his position.

In contrast to sectors such as sports and the creator economy which are thriving, Hollywood is facing a shrinkage in its entertainment industry. Consequently, talent agencies are adjusting their strategies to meet these changing circumstances.

For decades, I’ve felt honored to guide our talent agency, maintaining its competitive edge and independence. We’ve consistently adapted to the changing landscape of the entertainment world, be it amid a pandemic, labor disputes, or the technological and artistic advancements in our sector. Our collaboration with Will and his Coral Tree team signifies the next phase in our journey, enabling us to further expand with renewed vigor, all while staying committed to our primary goal: delivering exceptional client service.

We’re thrilled to start a genuine strategic partnership with Innovative at such an exciting phase in our agency’s development,” said Wynperle. “Innovative’s dedication to client representation has always impressed us, and we’re delighted to work closely with Scott and the senior management team. Our shared goal is to foster growth while ensuring client representation remains top priority, along with a comprehensive approach to client service. With the current high demand for premium content, Innovative is exceptionally well-positioned for lasting success.

Innovative Artists Entertainment received counsel from both Houlihan Lokey and Sheppard Mullin, while Coral Tree was advised by Kirkland & Ellis.

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2025-03-26 20:24