Zagadat Capital, the venture capital fund of popular Nigerian singer, Mr Eazi, has earned $1bn in a secondary buyout of its portfolio company, Vydia.
Vydia was acquired by music and technology company, gamma, owned by former Apple Music Executive, Larry Jackson.
Speaking on the acquisition, Jackson said, “gamma is built with the flexibility and aptitude that creators need to connect with fans on all formats and across all channels – with transparency and no restriction.
“We are a progressive media company powered by the best-in-class content distribution and analytics software by way of our Vydia acquisition, and central to its core, gamma is an ideas company.”
Vydia, the digital audio and video distribution infrastructure company, has previously worked with artistes like Akon, Kanye West, Mr Eazi, and Anuel.
Since the launch of Zagadat Capital in 2021, the company has invested in tech companies such as remittance-based lending company, Paisa; Eden Life; African fintech, Pawapay; and most recently, South Africa basketball team, CapeTown Tigers.
Some of the first investments of the venture capital fund were targeted at music technology companies like creative finance/IP company, emPawa (his company); Ticketing platform – SHOOBS; and American music distribution platform, Vydia, whose service emPawa used before financial investments in the platform.
