The Raine Group has formally introduced an over $760 million “Companions IV” fund, which the New York Metropolis-headquartered agency intends to put money into “sports activities, media, leisure and gaming” companies.
Raine Group higher-ups formally revealed the Companions IV fund – and plans to again “growth-stage TMT corporations” – by way of a basic launch at this time. Now with near $4 billion in property underneath administration, in keeping with execs, Raine beforehand invested in SoundCloud (which is trying to obtain profitability by 2023’s finish), Lollapalooza producer C3 Presents, Rock the Bells, and Amuse, to call some.
And whereas time will inform which corporations the just-detailed tranche reaches, Raine indicated that the Companions IV fund had supported London-based Tripledot Studios, the developer behind informal cellular video games corresponding to Woodoku and Phrase Hop, in its first funding.
In an announcement, Raine accomplice and head of investor relations and fundraising Sherri Williams touched upon a need to proceed “investing in transformative development corporations.”
“We respect this vote of confidence from our restricted companions and we sit up for constructing on our agency’s sturdy monitor file of investing in transformative development corporations inside our core sectors of focus,” relayed the JP Morgan and Rothschild vet Williams. “We sit up for working with our buyers and portfolio corporations to realize their full potential.”
Raine’s Companions IV announcement arrives about three weeks after ESH Acquisition Corp. debuted on the general public market. Now outfitted with $100 million or so, the particular goal acquisition firm (SPAC) is concentrating on a possible music trade buyout.
To make sure, the SPAC in regulatory filings made clear that it might discover the acquisition of “live performance venues, theaters, cinemas, file labels, music and tv streaming companies, manufacturing corporations and publishing homes.” The entity’s administrators embrace 1916 Enterprises’ Jonathan Gordon, with Audiosocket’s Edward Ackerley having signed on as an advisor.
In different funding and acquisition information, June (and the closing days of Could) introduced the sale of Soundtrap (from Spotify and again to its founders), Arro Media, and Aptone, to call some, as Warner Music Group took a stake in Hungarian label Magneoton. (The IFPI kicked off June by touting a court-ordered block on sure BitTorrent websites in close by Bulgaria.)
In the meantime, music trade corporations together with Past Music, digital live performance platform VARK, synthetic intelligence streaming service WAVs AI, Captions, and “premium ticketing market” Seat Distinctive introduced multimillion-dollar raises on the month.