After investing a heavy stack into a Black-owned production company, Kevin Hart’s Hartbeat has spun the block to close a deal.

There are many spaces that attempt to prevent Black women from thriving and the comedy industry is no different. However, with Kevin Hart’s Hartbeat — the multi-platform media company founded by the Philadelphia comedian — that’s not the case. In May, the company announced the return of its Women Write Now comedic screenwriting fellowship, which is on a mission to champion the next generation of Black women through advocacy, exhibition, mentorship, and production. The company’s CEO, Thai Randolph, led the most recent funding round, which totaled $100 million, and is excited to play a role in helping to greenlight projects led by women who look like her. “This program really has been a labor of love, but also, a real point of both passion and purpose,” Randolph told AfroTech in an exclusive interview. “The whole founding insight for the program was a very clear observation and experience that there are not enough Black women in the seat to greenlight things, which I am now. And, so,...

Kevin Hart has raised substantial funding to merge his existing entertainment companies. According to a press release shared with AfroTech, the comedian and Hollywood entertainer has merged Laugh Out Loud and HartBeat Productions to form HARTBEAT. In addition, it was also announced that the multi-platform media company raised $100 million from Abry Partners, in which the private equity firm took a minority investment. The funding will support new content, hiring new teams, and the expansion of existing brands and franchises.