Index Exchange’s investment arm, IX Labs, has announced a “multimillion-dollar” partnership deal with investment fund First Party Capital, a further sign of scaled ad tech companies looking to startup investments to future-proof their strategies.
The duo declined to publicize the specific investment total, although the partnership comes as FirstPartyCapital launches Fund 2 with a target size of £50 million ($67.5 million) to invest in early-stage ad tech and martech firms looking to expand internationally.
As part of the tie-up with IX Labs, Index Exchange has committed to a decade-long partnership with FirstPartyCapital, with the ad tech outfit also offering to collaborate with outfits within the fund’s portfolio, such as Bedrock, LightboxTV, and Lumen, on infrastructure services, deeper integration with its platform, and go-to-market strategy.
Continue reading this article on digiday.com. Sign up for Digiday newsletters to get the latest on media, marketing and the future of TV.