What’s the news
Masco Ventures is a new multi-year investment fund designed to fuel innovation by backing early and growth stage companies that are improving the way consumers experience and enjoy their homes, from providing better quality water and preventing damage to making repairs faster and more affordable.
Why it matters
With leading brands in home improvement like Behr® paint and Delta® faucet, Masco can add value to startups in the form of subject matter expertise, commercial relationships, or leveraging Masco’s global distribution channels within the building products industry. Together, we can make consumers’ lives better.
Who it’s for
Early and growth stage companies whose innovations improve water management, create connected in-home experiences, enhance our customer service, and provide different ways to reach new and existing end-use customers of Masco products.
LIVONIA, Mich. — February 16, 2021 — Masco Corporation (NYSE: MAS), a Fortune 500 company and a leader in the design, manufacture and distribution of branded home improvement and building products, today announced the establishment of Masco Ventures, which will invest in companies that advance Masco’s commitment to innovation.
Masco Ventures, a fully-owned subsidiary of Masco Corporation, is a $50 million venture capital fund focused on startups that are strategically relevant to Masco’s industry-leading brands, which include Behr® paint, Delta® and Hansgrohe® faucets, bath and shower fixtures; and Hot Spring® spas. The fund will target investments in products and services that improve water management, create a connected in-home experience, enhance our customer service, and provide different ways to reach new and existing end-use customers of Masco products. This fund is focused on partnering with startups to improve the way consumers experience and enjoy their homes, from making renovations and repairs faster and more affordable, to providing better quality water and preventing damage.
The fund will consider opportunities across stages, but will emphasize early and growth stage companies that demonstrate product/market fit and the ability to scale. Masco Ventures will invest in startups where Masco can add value in the form of subject matter expertise, commercial relationships, innovation, or leveraging Masco’s global distribution channels within the building products industry. An investment will typically range from $500,000 to $5 million, with reserves for follow-on investments.
“Innovation has been the hallmark of Masco since our founder, Alex Manoogian, introduced the single-hand faucet in 1954,” said Keith Allman, CEO of Masco. “We believe that this fund will allow us to continue our history of innovation and support our long-term growth strategy. Our investment underscores our commitment to enhance the way consumers all over the world experience and enjoy their living spaces.”
Touchdown Ventures, a firm specializing in corporate venture capital, will help manage the Masco Ventures fund. Touchdown will work closely with senior executives of Masco and its brands in all aspects of operating the fund.
“We are excited about what Masco can bring to entrepreneurs through the company’s industry relationships, vast distribution, and deep subject matter expertise,” noted David Horowitz, Co-Founder and CEO of Touchdown Ventures. “We believe Masco will be the partner of choice for innovators seeking to improve the way consumers experience their homes and create a competitive advantage for their startups.”
For more information about Masco Ventures, please visit www.masco.com/mascoventures.
Headquartered in Livonia, Michigan, Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Our portfolio of industry-leading brands includes Behr® paint; Delta® and Hansgrohe® faucets, bath and shower fixtures; Kichler® decorative and outdoor lighting; and HotSpring® spas. We leverage our powerful brands across product categories, sales channels and geographies to create value for our customers and shareholders. For more information about Masco Corporation, visit www.masco.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210216005062/en/
Masco Investor Relations Contact
Vice President, Treasurer and Investor Relations
Source: Masco Corporation
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