Mr Eazi VC fund ZAGADAT Capital has profited from a $1bn buyout deal of Vydia.
Vydia, a digital audio and video distribution company, was recently acquired by the American company, Gamma.
Mr Eazi, one of the most prominent names in the Afrobeats genre, has made history with the sale of his music portfolio company, Vydia, at a whopping price. This deal is being considered as one of the most significant deals in the history of Afrobeats.
Speaking on the acquisition, Jackson said, “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.
“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.”
Ever since launching the VC fund Zagadat Capital in 2021, the company has 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 of the venture capital fund were targeted at music technology 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.
With this impressive achievement, Mr Eazi has cemented his place in the music industry and has set a new standard for success in the Afrobeats genre.