Mr. Eazi’s venture capital fund, Zagadat Capital, has earned $1 billion in a secondary acquisition of its portfolio company, Vydia.
Vydia was purchased by gamma, a music and technology firm founded by former Apple Music executive Larry Jackson.
Jackson stated about the acquisition, “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.”
Vydia, a digital audio and video distribution infrastructure company, has previously worked with Akon, Kanye West, Mr Eazi, and others.
Since its inception in 2021, Zagadat Capital has invested in technology firms such as remittance-based loan startup Paisa, Eden Life, African fintech Pawapay, and, most recently, South African basketball franchise CapeTown Tigers.
Some of the venture capital fund’s earliest investments were in music technology firms such as his creative finance/IP company, emPawa; ticketing platform, Shoobs; and American music distribution platform.
Mr Eazi is a popular Nigerian singer and a serial investor