Popular Nigerian musician Mr. Eazi’s venture capital company, Zagadat Capital, made $1 billion from the secondary buyout of Vydia, one of its portfolio companies.
Former Apple CEO Larry Jackson oversaw the $1 billion takeover through his recently established multifaceted business, gamma. Some of its investors are identified as Apple, Eldridge Industries, and A24.
After gamma purchased its portfolio business Vydia, which had previously collaborated with artists including Akon, Kanye West, Mr. Eazi, and Anuel, the fledgling VC fund announced its first exit.
“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 claimed.
As a result of our acquisition of Vydia, we are a progressive media firm that is supported by the greatest content distribution and analytics tools available. Gamma is an ideas company at its very core.
Since its founding in 2021, Zagadat Capital has made investments in innovative firms like Eden Life, the African fintech Pawapay, the South African basketball franchise CapeTown Tigers, and the remittance-based lending firm Paisa.
Some of the initial investments were made in firms that provide technology for the music industry, such as the creative finance/IP company emPawa (his company), the ticketing platform SHOOBS, and the American music distribution platform Vydia, whose service emPawa used prior to investing in the platform.
