NEW YORK — North Equity LLC announced that it has launched Recurrent Ventures as a new operating business for its digital media portfolio that includes Popular Science, The Drive, Domino, Field & Stream, SAVEUR, Outdoor Life and Task & Purpose. Lance Johnson, who was previously the Operating Partner of North Equity and General Manager of Popular Science, Field & Stream, and Outdoor Life, has been named Recurrent’s CEO. Founded in late 2018 to purchase The Drive, North Equity has since acquired 15 media brands. “We’ve been growing at a rapid pace since inception. We’re now at the point where we can unveil the digital media business and tell our story,” said North Equity Managing Partner Andrew Perlman in a press release. “While North will continue to be focused on digital media–related investments and M&A, this change will also allow us to expand and diversify our investment portfolio.” Matt Young, a revenue and operations veteran who previously held executive roles at Motorsport Network, Yahoo, and Verizon Media, joins Recurrent as chief revenue officer.