Zagadat Capital, the venture capital fund owned by Nigerian musician and entrepreneur, Mr Eazi, has scored a major win with the $1 billion acquisition of Vydia, a digital audio and video distribution infrastructure company, by American music and technology firm, Gamma.
Gamma, which is owned by former Apple Music executive, Larry Jackson, sees Vydia as a key addition to its portfolio. The acquisition is a testament to the success of Zagadat Capital’s investment strategy, which has focused on cutting-edge technology companies in Africa and beyond.
Since launching in 2021, Zagadat Capital has invested in a number of promising tech companies, including remittance-based lending firm Paisa, fintech startup Pawapay, and Eden Life. Most recently, the fund invested in South African basketball team CapeTown Tigers, demonstrating its commitment to investing in innovative and impactful ventures across a variety of sectors.
Zagadat Capital’s early investments included music tech companies such as emPawa, a creative finance and intellectual property company founded by Mr Eazi himself, as well as ticketing platform SHOOBS and American music distribution platform Vydia, which was recently acquired by Gamma.
The acquisition of Vydia is a major milestone for both Zagadat Capital and Gamma, and is a testament to the growing importance of music and technology in the global economy. With this latest success, Zagadat Capital is poised to continue its mission of investing in transformative companies that have the potential to change the world.
We’re extremely excited to announce that Vydia has been acquired by gamma.
gamma. was founded by Apple Music’s former Global Creative Director Larry Jackson, and veteran music exec Ike Youssef, with financial backing from Eldridge, Apple, and A24.
This is just the beginning. pic.twitter.com/FoChydQNyo
— V Y D I A (@vydiaofficial) March 8, 2023