Mavin Records, one of Nigeria’s most prominent record labels led by Don Jazzy has reportedly secured a multi-million dollar investment from Kupanda Holdings.
According to a publication by Music Business Worldwide, the deal with Kupanda Holdings, a joint venture between Kupanda Capital and TPG Growth will help scale operations under the Mavin Global brand in order to meet “rapidly growing international demand” for African music.
TPG, one of the partners in Kupanda Holdings is a significant investor revolutionary tech companies such as Uber, AirBnB, Spotify, CAA, and STX Entertainment.
Mavin Records was founded in Lagos in 2012 and is home to a roster of artistes which includes Tiwa Savage, Dr SID, Johnny Drille, Ladipose Di’ja, D’Prince, Korede Bello DJ Big N and DNA Twins. The label’s official YouTube channel also holds over 680,000 subscribers and its videos have been viewed more than 353m times on the platform to date.
NET Spoke with Tega Oghenejobo, Chief Operating Officer of Mavin, who confirmed the deal.
Commenting on the new deal spoke of the label’s plans moving forward, Tega said: “With the resources and operational capacity Kupanda Holdings brings along with their investment, Mavin is now ready to grow our artist roster across the continent, and partner at a global scale. We are looking to build an institution that will support the fantastic creative ecosystem in Africa, and move Afrobeats to the forefront of the global industry.”
Also speaking on the the new deal, Bobby Pittman, Managing Partner of Kupanda Holdings, said, “Between Don Jazzy’s legacy of defining the sound of modern Afrobeats and developing top African artists, Mavin Global has a unique advantage and opportunity to build the record label that will accelerate bringing African popular music to the world.
“We are impressed by the Mavin team’s experience and are pleased to partner with them in their next phase of growth.”
Mavin’s Korede Bello has also reacted to the new development saying commented: “I’m overjoyed to be part of this new era for Mavin. With the support of this team, I’m excited to release new music for my fans and connect with even more music lovers across the world.”
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