Is Donut Media owned by private equity?

Notes

• Recurrent Ventures announced it acquired Donut Media on November 9, 2021 (used here as the date Donut first became private-equity-owned because Recurrent is owned/backed by North Equity).
• North Equity publicly describes itself as a 'private equity' firm and states it pursues control transactions, supporting classification of North Equity as a PE sponsor.
• North Equity launched Recurrent Ventures as the operating business for its digital media portfolio and describes Recurrent as expanding 'under the ownership and backing of North Equity'.
• Axios describes Recurrent as launched by 'private equity firm North Equity' (supports PE characterization of North Equity).
• Some reporting notes a $300M investment from Blackstone into Recurrent in 2022; the available sources gathered here do not clearly indicate Blackstone is the current controlling owner of Recurrent (so North Equity is treated as the controlling PE sponsor based on the clearest ownership/backing statements in sourced materials).
• Founding year and founders are stated in Recurrent’s acquisition announcement; founding location is supported by Donut Media’s hiring page stating it is based in Inglewood, CA and started in 2015.