If there's one thing Vice Media Inc. CEO Shane Smith can do, it's raise money.
The high-energy youth-infused television and digital company has secured $450 million from private equity firm TPG Capital LP, according to a Monday statement. The new infusion of cash increases the total money that Vice has raised from venture capital and media companies to roughly $1.4 billion.
Vice, which Smith co-founded in 1994 as a Montreal fanzine catering to alternative music and culture, is now valued at about $5.7 billion.
Before the TPG financing for closely held Vice, the Brooklyn, N.Y., company had raised nearly $1 billion from Walt Disney Co. (DIS) , Hearst Corp., Twenty-First Century Fox Inc. (FOXA) and Silicon Valley's Technology Crossover Ventures, an early investor in Netflix Inc. (NFLX) and Facebook Inc. (FB) . Vice produces an evening news show for HBO but its parent company, Time Warner Inc. (TWX) , isn't an equity investor in Vice.
TPG's investment comes as Vice continues to expand internationally both in television and online, securing carriage deals with pay-TV operators in Europe, Asia and South America. TPG, which manages more than $70 billion in assets, was an early investor in Uber Technologies Inc. and Airbnb Inc. as well as Spotify Ltd., owner of the world's largest subscription-based music streaming service.
Even after the TPG investment, Disney remains Vice's largest outside stakeholder, dropping slightly below a roughly 19% position following a $400 million investment in late 2015. Hearst's stake in Vice is about 4%, followed by Fox and other investors, including global ad agency WPP plc (WPPGY) .