Recurrent Ventures
Miami digital media company behind The Drive, Donut Media, and Task & Purpose, backed by venture equity firm North Equity.
Company Type
private
Founded
2018
Headquarters
Miami, Florida, USA
Employees
Approximately 300
Primary Market
United States
Recurrent Ventures Timeline
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About Recurrent Ventures
Who owns Recurrent Ventures?
Recurrent Ventures is majority backed by North Equity, the Miami venture equity firm that founded it in 2018. Blackstone invested $300 million in 2022 but does not control the company.
What brands does Recurrent Ventures own?
Its portfolio includes The Drive, Donut Media, Car Bibles, Task & Purpose, Field & Stream, Outdoor Life, SAVEUR, BobVila.com, Futurism, and military event properties. It sold Popular Science, Dwell, Domino, and Business of Home to Ziff Davis in May 2026.
Is Recurrent Ventures a public company?
No. Recurrent Ventures is privately held, backed by North Equity with additional investment from Blackstone. No shares trade publicly.
Who founded Recurrent Ventures?
The portfolio was assembled starting in 2018 by North Equity, with Andrew Perlman as co-founder. The Recurrent Ventures name launched in June 2021, and Perlman has served as CEO since November 2023.
Did Recurrent sell Popular Science?
Yes. Recurrent sold Popular Science to Ziff Davis in May 2026 alongside Dwell, Domino, and Business of Home, as part of a strategy to concentrate on automotive and military verticals.
Where is Recurrent Ventures headquartered?
Recurrent Ventures is headquartered in Miami, Florida, with publications operating from offices in New York and Los Angeles.
History of Recurrent Ventures
The business began in late 2018 when North Equity, a venture equity firm founded that year in Miami, acquired The Drive from Meredith Corporation. The purchase, made through an entity called Flash Equity, was North Equity's first media deal and established the playbook: buy a distressed enthusiast title with a loyal audience, then rebuild it on shared infrastructure.
North Equity added Popular Science, Field & Stream, Outdoor Life, and SAVEUR through the 2020 Bonnier US divestiture, plus Task & Purpose, Domino, and MEL Magazine. In June 2021 it consolidated the portfolio under a formal operating company, Recurrent Ventures, appointing operating partner Lance Johnson CEO and Matt Young chief revenue officer. That November, Recurrent acquired Donut Media, the largest automotive channel on YouTube, bringing video capability and 78 million monthly video views into the group.
A $300 million Blackstone investment in 2022 financed further purchases including Dwell, BobVila.com, and Futurism. The downturn arrived quickly after: MEL Magazine was shuttered in 2022, layoffs hit multiple titles in November 2023, and the company cycled through three CEOs in three years before co-founder Andrew Perlman assumed the role in November 2023.
Perlman's rebuild emphasized vertical focus and profitability over reach. The restructuring culminated in the May 2026 sale of Popular Science, Dwell, Domino, and Business of Home to Ziff Davis. The remaining portfolio, anchored by The Drive, Donut Media, and the military vertical, is positioned by management as a tighter, more durable operation.
Controversy, Regulation & Public Scrutiny
Recurrent's scrutiny has centered on its handling of acquisitions during the downturn. The November 2023 layoffs that cut roughly half of Popular Science's staff drew coverage as emblematic of private equity-era publishing pressures, and the three-CEO succession in as many years raised governance questions. The closure of MEL Magazine months after championing it was widely criticized in media circles. The 2026 divestitures were framed positively as focus, but observers noted they also reduced the asset base built with the $300 million Blackstone financing.
Brands Owned by Recurrent Ventures
Recurrent Ventures owns 2 brands in our database. Explore the ownership tree below — click categories to expand and see individual brands.
Recurrent Ventures
private · Founded 2018 · Miami, Florida, USA
2
brands
Recurrent Ventures Ownership: Pros & Cons
Advantages
- +Founder-led structure under Perlman aligns the operator, backer, and strategy
- +Shared technology demonstrably improves revenue at acquired titles
- +Narrowed vertical focus concentrates investment where the company leads
- +Employee equity participation aligns staff with company performance
Considerations
- -Private ownership limits transparency into post-restructuring financial health
- -The Blackstone investment history shows leverage can force unwanted asset sales
- -Portfolio is now concentrated in a few verticals, reducing diversification
- -Leadership instability of the prior years may take time to fully repair
Frequently Asked Questions About Recurrent Ventures
Who owns Recurrent Ventures?
Recurrent Ventures is majority backed by North Equity, the Miami venture equity firm that founded it in 2018. Blackstone invested $300 million in 2022 but does not control the company.
What brands does Recurrent Ventures own?
Its portfolio includes The Drive, Donut Media, Car Bibles, Task & Purpose, Field & Stream, Outdoor Life, SAVEUR, BobVila.com, Futurism, and military event properties. It sold Popular Science, Dwell, Domino, and Business of Home to Ziff Davis in May 2026.
Is Recurrent Ventures a public company?
No. Recurrent Ventures is privately held, backed by North Equity with additional investment from Blackstone. No shares trade publicly.
Who founded Recurrent Ventures?
The portfolio was assembled starting in 2018 by North Equity, with Andrew Perlman as co-founder. The Recurrent Ventures name launched in June 2021, and Perlman has served as CEO since November 2023.
Did Recurrent sell Popular Science?
Yes. Recurrent sold Popular Science to Ziff Davis in May 2026 alongside Dwell, Domino, and Business of Home, as part of a strategy to concentrate on automotive and military verticals.
Where is Recurrent Ventures headquartered?
Recurrent Ventures is headquartered in Miami, Florida, with publications operating from offices in New York and Los Angeles.
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