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Singer Mr Eazi sells portfolio company Zagadat Capital for $ 1 billion
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Mr Eazi’s Zagadat Capital profits from $1bn Vydia buyout deal.
Zagadat Capital, the venture capital vehicle of famed Nigerian singer, Mr Eazi, has earned $1 billion in a secondary buyout of its portfolio company, Vydia.
Former Apple CEO Larry Jackson oversaw the $1 billion takeover through his recently established multifaceted business, gamma. Some of its investors are identified as Apple, Eldridge Industries, and A24.
The new venture capital firm announced its first exit when gamma purchased its portfolio company Vydia, which has previously collaborated with musicians including Akon, Kanye West, Mr Eazi, and Anuel.
“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,” Jackson said.
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.”
Zagadat Capital since its launch in 2021 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 went into music tech 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.