Elizabeth Wagmeister Senior CorrespondentWayfarer Studios — the independent production studio from filmmaker, author and “Jane the Virgin” actor Justin Baldoni — has received a $125M investment to boost strategic growth and further the company’s production of film, television, documentaries, podcasts and new media projects, Variety has learned exclusively.The private investment comes from Wayfarer Studios’ co-founder Steve Sarowitz, the entrepreneur, billionaire philanthropist and chairman of software company Paylocity, along with his wife, Jessica Sarowitz.
Wayfarer was founded in 2019 by Baldoni and Sarowitz, who has served as an active advisor since the company’s inception.Wayfarer Studios’ mission is to bring people together and highlight connection through storytelling.
The company is rooted in creating globally impactful projects, and prides itself in debunking the typical studio model by championing inspirational stories towards social change.
Together, Sarowitz and Baldoni hold the belief that purpose-driven content and commercial success are not mutually exclusive, and the new investment will boost the company’s production capabilities and strengthen its mission to shine a light on underrepresented voices and celebrate humanity in a greater capacity.Sarowitz, who has served as an executive producer on the Peabody Award-winning film “Maya Angelou: And Still I Rise” and the religious documentary “The Gate: Dawn of the Baha’i Faith,” has played in integral role in shaping the executive ranks at Wayfarer Studios.
Read more on variety.com