Mare of Easttown prodco Wiip secures additional investment from Atwater Capital

Kate Winslet in Mare of Easttown

Mare of Easttown and The Summer I Turned Pretty prodco Wiip has secured additional investment from entertainment-focused private equity firm Atwater Capital.

The new investment comes two years after Atwater first invested in the US-based company, which is majority owned by South Korea’s Studio LuluLala (SLL), formerly known as JTBC Studios.

With the additional investment, Wiip, which was launched in 2018, will continue to be led by founder and CEO Paul Lee. The amount invested by LA-based Atwater Capital was not disclosed.

Wiip was previously majority owned by US-based talent agency CAA until SLL acquired its majority stake.

Atwater’s additional investment means it becomes the second largest shareholder in Wiip. CAA remains a minority shareholder.

Atwater’s founder and managing partner Vania Schlogel has been part of Wiip’s advisory board since the private equity firm’s initial investment.

In addition to HBO’s Mare of Easttown and Amazon’s The Summer I Turned Pretty, Wiip is also behind series including Dickinson for Apple TV+, Pistol for FX and The White House Plumbers for HBO. In addition, the company will produce Bodkin, the first scripted series from Barack and Michelle Obama’s Higher Ground production banner.

Atwater is an investor in several content companies, including Germany’s Leonine Studios, France’s Mediawan Studios, LA-based production and sales outfit MadRiver Pictures and a development partnership with US actor Channing Tatum’s Free Association.