Zagadat Capital, the venture capital fund of popular Nigerian artist, Oluwatosin Ajibade popularly called Mr Eazi, has earned $1bn in a secondary buyout of its portfolio company, Vydia.
NewsClick Nigeria gathered that the $1billion takeover was led by former Apple executive Larry Jackson through his newly founded multi-faceted company – gamma. Apple and Eldridge Industries and A24 are also listed as some of its investors.
The young VC fund announced its first exit after gamma acquired its portfolio company Vydia; which has previously worked with artists 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.
