Zagadat Capital, the venture capital fund of popular Nigerian artist, Mr Eazi, has earned $1bn in a secondary buyout of its portfolio company, Vydia.
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.
See reactions below;
__adesolaa: Mr. Eazi lowkey has bastard money.
paulagram__: so he’s richer than Davido and Burnaboy 😮😮😮Wizkid net worth is $8b 😍.
heisremzel: God if I’m a lion please just take me back to the jungle 😣😩.
contactmelodyfidel: If this is true, then son Inlaw networth don pass father Inlaw own, everyone can now rest and understand he is for the love not the father’s money! 🔥🔥.
connect_reloaded: Y’all see why it’s not about been under wizkid!! It’s about the person and his strategies to be successful. He was once under the same wiz y’all criticize… now look at him making billions of dollars not naira ooo!!! Make una Dey blame wiz dey go. Davido fans Oya…..!
abukar_tss: he smartest celebrity in Nigeria Making money on a low 🙌🙌🙌🙌🙌🙌🙌.
opeyemifamakin: Can y’all now rest about him marrying Temi for money. He and her dad are now colleagues. And am a join them soon 😁.
orikri_ogheneovo_1: Every family has that 1 person who break’s the circle of financially struggles for the entire family If you are reading this, may you be the person.🙏.