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This April, Black Well-known South African DJ and record producer Nkosinati Mafumulo has made a history of grammar. He became the first African to win an award for his seventh studio album, “Sub-Mind”, in the category of Best Dance / Electronic Album.
South Africa’s Ampiano House Music and Afrobitis are a win-win because of the growing demand for food from West Africa. It was a much-desired success for the African music scene, and it did not seem to be a breakthrough for the technology scene.
Over the past two years, there has been an overlap between technology and the arts, to invest in the growing technology of film, music and sports stars. Some – including Gay Award-winning artists such as Jay-Z, The Chainsmokers, Nas and others like Snoop Dogg – have invested heavily in startups in the United States, Europe and around the world.
Therefore b Black coffeeA.D. The success of Andela, a technology-enabled incubator and Unicorn, launched in Lagos in 2015, can boast that the Grammy Award-winning artist, the first-ever African technology show in Africa, is a start-up investor.
What attracts African music artists to investment in technology?
Prior to joining Marcy Ventures in 2018, Shawn Carter will engage with other businesses such as Legacy Entertainment Company Rock Nation and Champagne brand Armand de Brigig. Despite the contrast between the lifestyle of technology and the entertainment world, his music career has given him the wealth and opportunity to grow financially, including in the beginning.
Mr. Izi (his real name) is one of the African artists who does not hide his love for Jay-Z’s entrepreneurship and seems to be accepting the billionaire’s playbook. Olutatosin Ajibade).
“The main driver for me to go to music was reading Jay Zed’s book ‘Empire State of Mind’,” Mr. Ezi called Tek Techunch. “I had a love for music, and I realized that the music business would help me find the place I was looking for. All I want is to get the freedom and still make a lot of investments and achieve financial freedom.
Last August, popular Afrobitts singer and songwriter made headlines at African Technology Clubs. Following his investment in pawaPay, A mobile payment company focused on the UK and Africa through Zagadat Capital. But unlike Jay-Z, during his long career, Mr. Ezi had a technological background before capturing popular songs such as Skin Titles, Hulp and Leg Over, and during his long career he produced three compositions and two EPs.
A.D. In 2014, Mr. Ezi Phonetrader’s online marketplace is currently supported by the uninterrupted launcher 440NG, which was run by two investment companies, L5Lab and 88mph. Although Izi learned the ropes and products of the company during his time at Fontender, the founder of the L5Lab and current CEO of the Diego Engineering Talent Recruitment Forum, Chika Nobi, understood the dynamics of investment. Investor Meetings.
These teachings In 2019, they will be assisted by Mr. Izi – overseas presence and contacts in the United States, the United Kingdom and Europe – Empress Africa has launched costumes for young artists. “When I started Empress Africa, I wanted to invest in a lot of artists and experiment with the VC model,” said the artist, who graduated from the Harvard Business School program.
Mr. Ezi (Founder of Impawa Africa and invested by Papai)
The agency – popular with Nigerian artists Joboi and Ghanaian artist Kwesi Arthur – now distributes tents to independent artists and record labels in marketing, distribution, publishing, management and financial services. It also marks the platform for those interested in investing in African music; For example, the $ 20 million African Music Fund (AMF) project by 2020.
Ajebuter 22Nigerian-based musician and rapper, whose real name is Akitoye Balogan, agrees with Philosophy by investing in Mr. Ezi’s creations. According to him, the power of artists and people in the creative space must be done in a VC way. In an interview with Tech Crunch, Ajebuter 22 said: “Some of the investments I have made in the music industry are to see an artist or project as a vehicle for rapid growth.
Like Mr. Ezi, the songwriter, known for his popular single “Tungba” in the Lagos party scene, grew in interest in technology. A.D. In 2013, he proposed creating a platform for people to pay for songs on their phones. Although it did not start with a lack of funding, the project’s groundbreaking work and the reading of books such as “From One to Zero” and “About Hard Things” opened the artist’s mind to options for technology.
Ajebutter22 will be working on Gamsole, Game Start and Cisco before joining Angel Investments in 2020. This was behind his decision to invest in technology, ”said AltSchool, an artist who has invested in Africa-based Web 3, a talent-matching platform and Nestcoin.
From personal checks to launching money
How Ajebutter22 Invested Personal relationships over the years have been crucial, and this method is ideal for very early angel investors. For example, Nestcoin CEO Yale Badmosi has been a long-time friend and has known Adewale Yusuf, the founder and CEO of Alt School, since his time in Gamsole. AltSchool Investments records the participation of another music artist and collaborator, Falls (real name Folarin Falana).
“I think the most important thing when you want to invest is to know the team you support because anything can change at any time. Of course the size of the market is also very important, but for me who is supporting it is key.”
If Ajebutter22 plans to change its strategy after making a lot of angel investments, it will be necessary to set up a standard structure such as Zagadat Capital – which Mr. Ezi jointly mentioned.
“It includes like-minded people who are interested in investing in young, African and African technology companies,” said Mr. Ezi. Family bureaus such as Shola Akinlade, Strip-owned Pestak co-founder and CEO, and Einoluwa Aboyeji, in addition to Talent City founder, are part of this.
Talent City is one of the continent’s most daring projects and Zagadat Capital Portfolio Company, which plans to create charter cities across Africa. Others are not as complex as Eden Eden Life, Auxiliary Startup and BitPawa, an online betting company. This deal covers a variety of Mr Eazi’s choices; The artist also pointed out that his collection will be of special interest to portfolio companies, whose members include a few celebrities, who could double as shareholders and influencers.
“It’s not just about getting money or some meetings. When we advertise, we can help the team evaluate. For example, you see me announcing betPawa. I am being paid but I am an investor and a shareholder, ”he said. “At the end of the day, we are more inclined to invest in companies that can improve the tires. It’s a sustainable, sustainable ecosystem.”
Outside of Africa, Mr. Izi cuts checks at Fintech’s Pisa checks in Mexico And Irish-based fraud prevention provider Apata. He owns other entertainment investments in addition to Empress Africa’s YC production company Shobs and an American-based music startup video. These two investments, especially as the continent’s music expands, emphasizes the role of artists in expanding their interest in Africans in the international entertainment sector. “The reason I have invested in music technology is to ensure that we do justice to Africa in an environment that is critical to the environment because it is here that the real power and value is,” Mr Ezi said.
Overall, it is a great portfolio for an artist-investor with a one-year active investment history. Over time, Mr. Izi has admitted to raising funds and investing in wider checks, as did his adviser Jay-Z in 2018. “For now, we are still in a group. But when it comes to growing up, I don’t need anyone to tell me. It will be a gradual process.
Black Coffee will host the deal with Flightmode Digital, a venture capital company founded in 2017, Pitch Book reports. The company – which says it wants to invest in video content creation and production and software development – has backed several startups, including Yoko, a South African startup that has raised more than $ 100 million in VC funding. SweepSouth, cleaning and home service launch; And Rensource, a renewable energy company.
It is not clear if Black Coffee has increased its investment in Flightmode Digital because it seems to be more of an investment company than a traditional VC company. However, the efforts of Ajebuuter 22, Black Coffee, Mr. Izi, Falz and a few on the radar suggest that it is time for local artists to open up VC companies and their international partners, regardless of their technical background. The continent’s tech show – which won $ 3 billion in Venture Capital Fund in the first half of this year – continues to explode and more are coming out.
“Artists don’t seem to be interested in investing in a beginner because some still need to take care of their immediate needs. Some people may not understand some of the problems being solved, ”said Ajebutter22. But over time, I think there will be more artists in that area. I think African artists are evolving and being exposed, and if one or two success stories happen, it will inspire them all to come in.
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