Criswell Fiordalis and Dillon Lawson-Johnston believe the Creator Economy has entered a new stage of growth and that capital needs to keep pace.

As co-founders of Guggenheim Brothers Media, the Los Angeles-based investment firm they launched in 2024, Criswell and Dillon are building a $75 million fund designed to back early- to growth-stage media and entertainment businesses, primarily in the digital creative economy. Their thesis? The industry no longer needs more bets on viral talent. It needs infrastructure, operating companies, and scalable systems that help creators build durable enterprises.

“We noticed there are a handful of institutional investors deploying significant capital across the broader media and entertainment landscape,” Criswell says, “but there remains a notable gap at the earlier end of the spectrum, with relatively few dedicated investors focused on supporting emerging companies seeking <$10M to accelerate growth and achieve scale.”

That gap between venture capital, which expects hyper-scale returns, and private equity, which targets mature, profitable companies, is where Guggenheim Brothers Media positions itself. The firm targets investments of $1 million to $5 million across 20 to 25 companies, deploying capital into tools, studios, IP platforms, and technology that support creator-led businesses at a pivotal growth stage.

The problem, Criswell notes, is structural. “Not all these businesses fit a venture profile, and not all these businesses are big enough for traditional private equity. And so who is their partner for capital and strategic support for getting to that next phase of their trajectory?”

For the founders, the answer is clear: a fund built by operators who understand that, at its core, this is still a people business.

Turning Operational Experience Into Investment Strategy

Guggenheim Brothers Media reflects the backgrounds of its founders.

Dillon previously held roles at United Talent Agency, Sugar23, Untitled Entertainment, Anonymous Content, and Coast Productions, and now serves as co-founder and Managing Partner of Guggenheim Brothers Media. 

Criswell brings investing and operating experience from his roles at Lionsgate, MRC, Hello Sunshine, and WEBTOON.

Together, they combine creative development experience with financial underwriting and operational strategy.

“We’re operators at heart,” Criswell says. “That’s the fun part for us.”

The company initially began by sourcing deals on a one-off basis and assembling capital around specific opportunities. Over time, the volume and quality of deal flow reinforced their conviction that a formalized fund structure would better support the market.

“In many ways, the ecosystem and infrastructure have caught up to the ambition of the creators,” Dillon explains. “Creators are no longer just experimenting. They are building teams, launching products, acquiring IP, and thinking globally from day one. But the capital structures around them were still fragmented and reactive.”

Formalizing the fund, he adds, allows them “to be intentional and consistent and build lasting companies rather than transactional partnerships.”

A $75M Fund Anchored in Abu Dhabi

In January, Guggenheim Brothers Media announced a partnership with Ethmar International Holding (EIH), an Abu Dhabi-based investment holding company, to anchor its multi-million-dollar investment fund.

The fund, targeting approximately $75 million in commitments, will invest globally in media, entertainment, and the digital creative economy, with an initial focus on U.S.-based companies while maintaining a strategic presence in the UAE and the broader GCC (Gulf Cooperation Council) region.

Criswell clarifies the structure: “EIH is a partner in the fund, but Guggenheim Brothers Media is investing the fund’s capital and managing its investments over the life of the fund.”

The Abu Dhabi base is more than symbolic. “The entertainment ecosystem is not getting less global,” he says. “It’s a strategic advantage for us to set up shop now in a region that reaches two-thirds of the world within an eight-hour flight.”

For the founders, the UAE represents both capital depth and an emerging creative ecosystem still in need of infrastructure. “There’s a lot of storytelling happening in the UAE in particular that could resonate with a much broader audience, but hasn’t had the opportunity to yet because it’s still an emerging entertainment ecosystem,” Criswell notes.

Infrastructure Over Hype

The firm’s investment thesis centers on infrastructure rather than individual talent.

“We’re not going to invest in an individual creator necessarily or buy five YouTube channels and try to roll those up,” Criswell says. “There are people doing that, and there are pros and cons of that strategy.”

Instead, the fund backs companies that help creators monetize, operate, and distribute more efficiently. That includes tools, studios, fan engagement platforms, IP engines, and creator ecosystems that reduce dependency on a single personality.

A key evaluation lens is what Criswell calls “key person risk.”

“It can always be about an individual first,” he explains. “But you have to figure out how to grow a business in a way that takes that individual, makes that individual less relevant, and makes the business and the team even more relevant.”

In practical terms, that means assessing whether a company has a repeatable engine beneath the founder’s audience. Dillon echoes the shift in investor mindset: “Many founders likely assume investors are still primarily underwriting audience size or engagement metrics. While those data points matter, they are certainly no longer the only deciding factor.”

Investors, he says, are asking deeper questions: Is the business durable across platform shifts? Does it create value beyond the founder’s personal output? Is there operational rigor?

“In reality, the bar is higher,” Dillon adds. “Investors want to see operational rigor, clarity around margins, and a thoughtful path to scale, not just cultural relevance.”

The Missing Middle in Creative Capital

Criswell describes the creator economy’s funding market as fragmented.

“There’s still a lot of venture, traditional venture money coming in,” he says. “But their expectations for scale are much different than what we’re looking for.”

Where venture firms often target quick growth and outsized exits, Guggenheim Brothers Media seeks sustainable expansion.

“We’re looking for a business that can grow sustainably over time with the right people and the right resources in and around them in order to be a long-term success,” Criswell says.

That positioning fills what he views as a structural gap. “If you look at other industries, there are probably hundreds of venture firms in this late-stage venture area that are doing this for that industry,” he says. “There’s only a couple of us really focused on the entertainment space and this digital ecosystem.”

For founders seeking $2 million to $5 million to scale operations, options remain limited. “They shouldn’t be spinning their wheels for 18 months trying to raise a couple of million dollars,” Criswell points out.

Beyond Capital: A Platform Approach

Guggenheim Brothers Media positions itself not as a roll-up vehicle, but as a minority investor providing operational support.

“We’re not trying to wholly own businesses and roll them up into some sort of holdco,” Criswell says. “We’re making minority investments in companies and want to invest in companies that value us as operators.”

The “platform” language used in the fund’s announcement refers to access to expertise, networks, and operational support.

The goal is to complement existing cap tables and resources rather than replace them.

Globalization, AI, and Community

Both Criswell and Dillon expect technology to reshape creative production, but not replace it.

“AI is like the internet,” Criswell says. “Everyone should be using it to do their jobs better.”

He anticipates improved cross-cultural storytelling as language barriers fall and distribution tools become more accessible. At the same time, he acknowledges the proliferation of low-quality output. “There is a balance there,” he says. “But we feel strongly that technology is only going to help the right creatives create better and tell their stories in a more powerful way.”

The duo also points to the formalization of the creator ecosystem as a major opportunity. Education, co-working hubs, certification programs, and professionalization layers are emerging as infrastructure gaps.

“There’s no formal education process for said influencer or creator,” Criswell notes. “If that is going to scale, there needs to be more formalized training around this.”

For the founders, this professionalization reinforces their broader thesis: creator-driven businesses are not niche. They are becoming structured, multi-layered enterprises.

Proving Creator Businesses Are Foundational

Ultimately, Guggenheim Brothers Media aims to shift how capital markets perceive the sector.

“For a long time, creators were treated as inputs into someone else’s system,” Dillon says. “What we’re seeing now is creators building the systems themselves.”

As he notes, the fund’s ambition extends beyond returns. It seeks to demonstrate that creative companies can operate with institutional discipline while maintaining cultural impact.

“We have no doubt that this fund will prove that creator-driven businesses are not a niche category, but a foundational layer of the future of media, entertainment, and the digital creative economy,” Dillon says.

As the firm closes commitments and begins deploying capital, Criswell remains focused on its mission to build sustainable structures around creative talent.

“We really do want to see the long-term success of these companies that we invest in,” he concludes.