The Raine Group, a global merchant bank focused exclusively on investing in and advising technology, media and telecommunications companies, yesterday announced it is acquiring Code Advisors, an independent merchant bank specializing in M&A and capital raising for technology and media companies. Code Advisors co-founders Quincy Smith and Michael Marquez will join Raine’s San Francisco office as a Partner and Special Advisor, respectively.
“We built Raine to be true thought partners for our portfolio companies and clients, always focusing only on deals where we believe our involvement can maximize meaningful outcomes,” said Brandon Gardner, co-founder and President of The Raine Group. “Code Advisors shares that commitment, so we’re thrilled to combine our networks and tap into the incredible energy, expertise and creativity Quincy brings to deal-making. I can’t imagine a more complementary partnership as Raine continues to expand its investing and advisory business across the globe.”
Since its founding in 2009, The Raine Group has emerged as a leader in technology, media and telecom deal-making. Currently the firm oversees approximately USD $4 billion in global growth equity and venture capital investments, with an entertainment and technology portfolio including DraftKings, SoundCloud and Imagine Entertainment. Raine was most recently the lead advisor to WWE on the formation of a new, global live sports and entertainment company representing the UFC and WWE brands. Last year, Raine facilitated the £4.25 billion acquisition of the Chelsea Football Club, a fast-moving and complex deal that was ultimately awarded the International Financing Review’s inaugural M&A Deal of the Year. Additionally, Raine was instrumental in crafting some of the music industry’s most significant deals in 2022, earning partner Fred Davis the #7 spot on the Billboard 2023 Power 100 List.
With over 90 completed M&A transactions and nearly 65 primarily equity financings, Code Advisors has steadily grown its technology and media client base since inception in 2010. In addition to its M&A and capital raising services, Code Advisors manages assets from equity earned from advisory services, direct investing in select early-stage companies, and LP investing in venture funds. Notable Code Advisors clients include Twitter, Spotify, Vox and Warner Bros Discovery, among others.
“Raine and Code maintain a shared vision of combining smart advisory with asset management to help entrepreneurs navigate new times and realize their full potential through transactions, all flavors of capital, relationships, talents and ideas,” said Smith. “Raine’s global merchant banking model and extensive resources uniquely position them at the epicenter of technology, media and telecom, and combining Code into Raine gives us a larger platform at exactly the time when clients need a trusted Advisor.”
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