Tech Billionaire’s Son Behind Oscar-Winning Studio Raises $30M To Bring More Diverse Stories To The Screen
Lion Forge Entertainment, the Black-owned studio behind a growing slate of diverse film and TV projects, has secured a $30 million funding round led by HarbourView Equity Partners, as first reported by Bloomberg.
The Los Angeles–based studio, founded by David Steward II, son of billionaire tech entrepreneur David Steward, will use the capital to scale up production and expand its pipeline of original content. The Steward family, with an estimated net worth of about $8.7 billion, also invested and remain majority owners.
Lion Forge develops and produces live-action and animated films, television series, and consumer products. The studio earned an Academy Award for Hair Love and is behind Iyanu, the hit animated fantasy series airing on Cartoon Network and Max.
About The Steward Family
David Steward, founder of World Wide Technology (WWT), became the wealthiest Black man in America in 2024 with an estimated net worth of $11.4 billion. That figure stands $12.4 billion at the time of writing. Under his leadership, WWT has grown into the largest Black-owned business in the US, generating more than $20 billion annually, including $6 billion from international markets.
Beyond business, Steward has invested in diversity initiatives, from sponsoring NASCAR driver Bubba Wallace to supporting equity efforts in the National Hockey League and funding community programs through his family’s foundation. His son, David Steward II, has carried that commitment into entertainment, building Lion Forge and comic book ventures under his holding company Polarity.
HarbourView’s Expanding Reach
HarbourView Equity Partners, a Black-woman owned private equity firm, has quickly become a major player in the media investment space.
Established in 2021 by Sherrese Clarke, the former CEO of Tempo Music, with support from Apollo Global Management, the firm manages nearly $2.7 billion in assets and has acquired more than 70 music catalogs, according to Music Business Worldwide.
The company’s portfolio includes music from 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. It has accumulated around $2.67 billion in regulatory assets under management.
The Lion Forge deal marks its latest push into film and television IP.
Image: Whitney Curtis, courtesy Polarity Ltd
