How Mr Eazi earned $1bn from the sales of his company, Vydia

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Mr. Eazi, a popular Nigerian singer, is now $1bn richer thanks to the sale of his portfolio company. The singer and its capital venture fund, Zagadat Capital, made a whopping $1bn in a secondary buyout of its portfolio company, Vydia.

Vydia was acquired by music and technology company Gamma, a company owned by former Apple Music Executive Larry Jackson.

When asked about the investment/acquisition, here is what Jackson has to say, “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 artists 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.

Source: akewusolafblog.com

#Companies

#Larry Jackson

#Mr Eazi

#Tech companies

#Vydia

#Worked

#Zagadat Venture