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Laxman Pai, Opalesque Asia: Pophouse Entertainment, the Sweden-based music investment firm behind ABBA Voyage, has raised over €1.2 billion ($1.3 billion) for its debut fund.
The Stockholm-based company announced in a media release that Pophouse Fund I reached its hard cap. The firm has attracted a diverse global investor base, including leading pension funds, endowments, high-net-worth individuals, family offices and sovereign wealth funds.
"This capital raise signals a heightened interest in music rights as lucrative investments, reshaping the landscape of music ownership," the release added. It says it has more partnerships on the way "which include some of the world's most recognizable and influential names in the global music industry".
The fund aims to acquire music catalogs and intellectual property, having already deployed 30% of its capital through artist partnerships with KISS, Cyndi Lauper, Avicii and Swedish House Mafia.
"Raising over €1.2bn for our debut fundraising is an extraordinary milestone that firmly establishes Pophouse as a global leader in music investment," said its partner and head of capital raising and investor relations Natalia Fontecha.
In the past, companies like Universal Music and Warner Music dominated the landscape, often purchasing rights at formidable prices. However, as streaming grew, so did the awareness of music's valuation, resulting in private investments skyrocketing in recent years. This shift has hi...................... To view our full article Click here
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