Advancit Acquisition Corp. I

Underwriter: Citigroup
SPAC Ticker
Media, Technology
External link: SEC Filings



Jonathan Miller has served as Chairman of our board of directors since our inception. Mr. Miller brings decades of global leadership and investment experience in media and technology. He has served as the Chief Executive Officer of Integrated Media Company, a TPG sponsored investment company, since February 2018. He is also an advisor to Advancit Capital, and was a Partner at Advancit Capital from July 2013 to February 2018. Previously, from April 2009 until September 2012, he was the Chairman and Chief Executive Officer of News Corporation’s Digital Media Group and News Corporation’s Chief Digital Officer. During his time at News Corporation Mr. Miller served on the board of Hulu. In addition, Mr. Miller had previously been a founding partner of Velocity Interactive Group, an investment firm focusing on digital media and the consumer Internet, from its inception in February 2007 until April 2009. Prior to founding Velocity Interactive Group, Mr. Miller served as Chief Executive Officer of AOL LLC from August 2002 to November 2006. Prior to joining AOL, Mr. Miller served as Chief Executive Officer and President of USA Information and Services, a division of USA Interactive, a predecessor to IAC/ InterActiveCorp. During the prior five years, Mr. Miller was a director of AMC Networks and is currently a member of the board of directors of The Nielsen Company, Akamai Technologies, Inc., Interpublic Group of Companies, Inc., and J2 Global, Inc.

Mr. Miller also serves as a director of The Paley Center for the Media and American Film Institute. He has been awarded the Inaugural Pioneer Prize, Producers Guild of America, the Inaugural Vanguard Award, International Emmy Association, the Digital Power Player of the Year, Hollywood Reporter, and the Monaco Media Festival, Interactive Pioneer Award. Mr. Miller earned his B.A. from Harvard College. We believe Mr. Miller is qualified to serve on our board of directors due to his extensive experience in the finance and media industries.

Randy Freer has served as Chief Executive Officer and a member of our board of directors since our inception. In May 2020, Mr. Freer founded the Freer Company, which advises and consultants companies across the TMT sector including, gaming video and gambling, content development, sports, private equity and more. From October 2017 to March 2020, Mr. Freer served as Chief Executive Officer of Hulu. Prior to Hulu, Mr. Freer served as President and Chief Operating Officer of Fox Networks Group from November 2013 to September 2017, where he oversaw revenue, distribution, operations, business development and strategy for all aspects of the Fox Television Group, FX, FOX Sports and National Geographic Partners. From January 1997 to November 2013, Mr. Freer worked at Fox Sports Media Group, where he most recently served as Co-President and Chief Operating Officer, focusing on growing and enhancing FOX Sports’ prestigious portfolio of league, conference and team media rights.

Mr. Freer earned his B.A. in Business from St. Joseph’s College. Mr. Freer is a 2021 Harvard Advanced Leadership Fellow focused on leadership for social impact. We believe Mr. Freer is qualified to serve on our board of directors due to his extensive experience in the technology and media industries.

Jason Ostheimer has served as President and a member of our board of directors since our inception. Mr. Ostheimer brings over 16 years of relevant investment experience. Mr. Ostheimer serves as a Partner at Advancit Capital, an investment firm focused on early-stage media, entertainment and technology companies that he co-founded in March 2011. At Advancit, he has invested in companies including the Athletic, Headspace, Masterclass Public, Moat (acquired by Oracle), Maker Studios (acquired by Disney), Niche (acquired by Twitter), Wondery (acquired by Amazon), and more. Prior to co-founding Advancit Capital in March 2011, Mr. Ostheimer served as a Vice President at The Blackstone Group, a global investment firm. He currently serves on the Board of Directors of Known Global, a modern marketing company that uses data science, strategy and world class creative for top brands.

Mr. Ostheimer earned his B.S. in Economics (summa cum laude) with a concentration in Finance from The Wharton School at the University of Pennsylvania. He currently serves as a Director of the Board of the Gift of Life Marrow Registry. We believe Mr. Ostheimer is qualified to serve on our board of directors due to his extensive experience in the technology and finance industries.

Alex Kassan has served as Chief Financial Officer and Head of Corporate Development since our inception. Mr. Kassan has over 15 years of principal investment experience with a primary focus on the consumer, technology, media and entertainment sectors. Mr. Kassan was most recently a Managing Director at Anchorage Capital Group, where he focused on executing private investments across various sectors from 2015 until 2020. Prior to Anchorage, from 2012 until 2015, Mr. Kassan served as a Director at Advance Publications where he invested in early, mid and growth stage companies. Prior to Advance, from 2010 until 2012, Mr. Kassan was a Vice President at The Raine Group, a merchant bank focused on both advisory and principal opportunities. Prior to Raine, from 2007 until 2009, Mr. Kassan was a Senior Associate at Dune Capital Management responsible for evaluating credit and equity investments in both liquid and illiquid markets. Before Dune, Mr. Kassan was an Associate in the Private Equity Group at Cerberus Capital Management focused on evaluating control-oriented equity investments. Over this period, Mr. Kassan has been involved as an investor in companies including, but not limited to, Spyglass Entertainment, Scopely, Compass, Katapult, Rent the Runway, Farfetch, Factual, SoundHound, Thrive Market, Delivery Hero, Sweetgreen, SentinelOne and Taboola. Mr. Kassan has an M.B.A. from Columbia Business School and a B.A. from the University of Michigan.

Matt Minoff has served as Head of Business Development since our inception. Mr. Minoff is a serial entrepreneur, operator and investor with over 15 years of experience across the digital media and technology sectors. He currently serves as co-founder and Chief Executive Officer of Bond Sports, a software company powering recreational sports, where he has worked since March 2020. Mr. Minoff also serves as an advisor to Integrated Media Corporation, a holding company thematically investing across the digital media landscape, a position he has held since January 2019. Previously, Mr. Minoff served as President and Chief Executive Officer of Selectable Media from May 2009 until its acquisition by Meredith Corporation in January 2015, and subsequently worked at Meredith Corporation following the acquisition until January 2019, most recently serving as SVP, Chief Digital Officer. Prior to Selectable Media, Mr. Minoff was an analyst at Allen and Company, a boutique investment bank focused on the TMT space. Mr. Minoff is a Board Director of Cafe Media, Synergy Sports and The Take. Mr. Minoff earned his B.S. in Economics from Yale University.

Troy Carter will be a director upon the effectiveness of the registration statement of which this prospectus forms a part. Mr. Carter is currently the founder and CEO of Q&A, a music technology company focused on building software solutions for recording artists via distribution and analytics. His ability to navigate between old media models and new technologies has landed him on lists such as Fast Company’s Most Creative People and Billboard’s Power 100, the music industry’s top influencers’ annual ranking. In 2016, Mr. Carter joined Spotify as its Global Head of Creator Services, where he built an international team and developed successful strategies for Spotify to compete with Apple, Amazon, and Google in music streaming. In 2018, following the initial public offering of Spotify, he transitioned into a consulting role for CEO Daniel Ek.

Mr. Carter previously founded the entertainment company, Atom Factory in 2008, and, during his tenure, worked with Lady Gaga as she grew into a global pop phenomenon and managed Grammy Award winners John Legend and Meghan Trainor’s careers. His early-stage investing experience includes Uber, Lyft, Dropbox, Spotify, Slack, Warby Parker, Gimlet Media, and Thrive Market. Respected as a thought leader on strategic marketing, Mr. Carter has served on the boards of WeTransfer and SoundCloud. He currently serves as an advisor to the NBA Players Association, The Prince Estate, and was previously an advisor for Lyft and Spotify.

Mr. Carter serves as an Executive Member on the Board of Trustees at Aspen Institute and is a Henry Crown Fellow. In addition, he’s a member of the United Nations Global Entrepreneurship. His local civic engagement in Los Angeles has led him to serve on the boards of Los Angeles County Museum of Contemporary Art, Los Angeles Mayor’s Council for Technology & Innovation, and CalArts. We believe Mr. Carter is qualified to serve on our board of directors due to the leadership and public company experience he brings.

Tara Comonte will be a director upon the effectiveness of the registration statement of which this prospectus forms a part. Ms. Comonte is the President and CFO of Shake Shack, the high growth, global publicly traded restaurant chain. Ms. Comonte has served as Shake Shack’s CFO since June 2017, and has served as President and CFO since October 2019. Ms. Comonte plays a broad strategic and operational leadership role, as well as overseeing all aspects of finance and technology across the company. Ms. Comonte’s industry experience is rooted in consumer and technology, and spans advertising, media, digital content and restaurants/retail with a track record of having assisted companies to achieve improved performance and long-term global scale.

Prior to Shake Shack, Ms. Comonte was EVP, Chief Financial & Business Affairs Officer at Getty Images, a leading global digital marketplace for images, video and music content where she was responsible for overall leadership and strategic direction of all aspects of the global Finance function as well as the Technology Applications & Development function. Earlier in her career, Ms. Comonte served as CFO of McCann Worldgroup, and CFO & COO of Mediabrands, where she was a founding executive, managing more than $30 billion in global media billings. Ms. Comonte began her career with Ernst & Young in the United Kingdom. Ms. Comonte is also an Independent Board Director of TMRW Life Sciences, which in January 2021 launched the world’s first automated cryo specimen management platform in IVF. Ms. Comonte has a B.A. from Heriot Watt University and a CA from the Institute of Chartered Accountants. We believe Ms. Comonte is qualified to serve on our board of directors due to the retail, leadership and public company experience she brings.

Sheila Lirio Marcelo will be a director upon the effectiveness of the registration statement of which this prospectus forms a part. Ms. Marcelo is currently a Venture Partner at New Enterprise Associates. Ms. Marcelo was previously the founder, former CEO and Chairwoman of Care.com. Ms. Marcelo served as CEO from the company’s founding in October 2006 and became chairwoman of the Care.com board of directors in October 2011, serving in both roles until February 2020, when the company was sold to IAC. Prior to founding Care.com, Ms. Marcelo was an Entrepreneur-in-Residence at Matrix Partners, a venture capital firm. Ms. Marcelo also spent five years at Upromise, Inc., an online service that helps families save for college, where she held various executive positions, including Vice President, Product Management and Marketing. Earlier in her career, Ms. Marcelo was a consultant for Monitor Group and Pyramid Research.

Ms. Marcelo graduated from Mount Holyoke College with a degree in economics and was conferred an honorary Doctorate of Humane Letters in 2015. She received her J.D. and MBA with honors and a Dean’s Award from Harvard University, and in 2014 was awarded the Harvard Business School Alumni Achievement Award. Ms. Marcelo is a Board Trustee of the Philippine Development Foundation. She is a Henry Crown Fellow with the Aspen Institute, a Young Global Leader of the World Economic Forum, was awarded a Marshall Memorial Fellowship, and is a member of the Council on Foreign Relations. We believe Ms. Marcelo is qualified to serve on our board of directors due to the perspective, leadership and operational and public company experience she brings.

Donna Orender will be a director upon the effectiveness of the registration statement of which this prospectus forms a part. Ms. Orender is currently the CEO of Orender Unlimited, a consulting and advisory firm she founded in 2011. Ms. Orender previously spent 17 years at the PGA TOUR where she served as one of three senior executives in the Office of the Commissioner. She led a transformational effort in reimagining the TOUR’s product and global media that resulted in significant revenue and product growth. She developed the TOUR’s overall digital strategy and International rights businesses, founded PGA TOUR radio with partner Sirius XM, created brand strategy, and oversaw domestic as well as global media rights, production, programming and distribution. From 2005 to 2010, Ms. Orender served as the President of the WNBA. During her term business metrics that saw growth included sponsorship, television ratings, digital fan engagement profitability and attendance growth, Her embrace of new technology enabled broader distribution of programming and media for WNBA fans. Ms. Orender also spent time working in sports media gaining experience at the network level, ABC Sports, in cable TV at Rainbow Sports and founding and running her own production company, which was subsequently purchased by the PGA TOUR.

Ms. Orender also serves on the nominating and compensation committees for the V Foundation for Cancer Research board, the board of the World Surf League, and is the founder of Generation W, an organization that focuses on educating, inspiring and connecting women and girls in the service of building better communities. Ms. Orender received a B.A. from Queens College, was awarded an honorary doctorate from Adelphi University. She was chosen as a daughter of greatness by the Muhammad Ali Center and is a multiple hall of fame athlete. We believe Ms. Orender is qualified to serve on our board of directors due to the media, leadership and public company experience she brings.