Mr Eazi’s Zagadat Capital Scores Big in Vydia’s $1 Billion Backed Buyout: Big Win for African Music and Tech Investments
Written by maxfmeditor3 on April 17, 2023
Mr Eazi, the popular Nigerian musician and entrepreneur, is making waves in the investment world with his venture capital fund, Zagadat Capital. The fund recently celebrated its first successful exit as Vydia, one of its portfolio companies, was acquired for a staggering $1 billion. Vydia, known for its work with artists such as Akon, Kanye West, Mr Eazi himself, and Anuel, was bought by gamma, a multi-faceted company led by former Apple executive Larry Jackson. This significant investment success is just one of the many achievements of Mr Eazi’s thriving VC fund.
Zagadat Capital, which was launched by Mr Eazi in 2021, has been making strategic investments in various technology companies. Some of its notable investments include remittance-based lending company Paisa, Eden Life, African fintech Pawapay, and most recently, South Africa basketball team CapeTown Tigers. Prior to these, the fund has also invested in music tech companies like creative finance/IP company emPawa (owned by Mr Eazi’s company), ticketing platform SHOOBS, and American music distribution platform Vydia, whose services were used by emPawa before financial investments were made in the platform.
The recent acquisition of Vydia by gamma has generated significant buzz in the media and the investment community. Larry Jackson, the founder of gamma, expressed his excitement about the acquisition, stating that gamma is a progressive media company that aims to connect with fans across all formats and channels with transparency and no restrictions, powered by Vydia’s best-in-class content distribution and analytics software.
Mr Eazi’s venture into the investment world with Zagadat Capital is a testament to his entrepreneurial spirit and business acumen. The young VC fund has been making strategic investments in promising tech companies, leveraging Mr Eazi’s extensive experience in the music industry and his deep understanding of technology and innovation. The fund’s success in the recent Vydia acquisition is a notable milestone, further establishing Mr Eazi as a savvy investor.
Apart from his investment successes, Mr Eazi is also known for his contributions to the music industry. As a popular musician, he has achieved international recognition with hits like “Leg Over,” “Pour Me Water,” and “Skin Tight.” He has also been a vocal advocate for African music and culture, and has played a significant role in promoting African artists and music globally through his emPawa initiative, which supports emerging African talent.
With Zagadat Capital’s impressive investment portfolio and the recent acquisition of Vydia, Mr Eazi’s entrepreneurial journey continues to gain momentum. His vision for investing in technology companies that have the potential to disrupt industries and create value aligns with the changing landscape of the business world, where technology and innovation play a crucial role in driving growth and success.
The success of Zagadat Capital also highlights the growing interest in venture capital and investment opportunities in Africa. As the continent’s tech ecosystem continues to evolve and mature, more African entrepreneurs and investors are recognizing the potential for growth and innovation in the region. Mr Eazi’s achievements with Zagadat Capital serve as an inspiration to other African entrepreneurs and investors, showcasing the possibilities and opportunities that exist in the African business landscape.
In conclusion, Mr Eazi’s Zagadat Capital has achieved a significant milestone with the successful exit of portfolio company Vydia through its acquisition by gamma for $1 billion. The fund’s strategic investments in technology companies, guided by Mr Eazi’s entrepreneurial vision and industry expertise, have yielded impressive results. This success further establishes Mr Eazi as a prominent figure in the investment and music industries, and serves as a testament to the growing potential of venture capital and technology investments in Africa.