Multi-faceted company led by former Apple executive Larry Jackson, gamma, has acquired Vydia for $1 billion.
Vydia is one of the portfolio companies with venture capital fund, Zagadat Capital, which was founded in 2021 by Nigerian musician and entrepreneur, Oluwatosin Ajibade popularly known as Mr Eazi.
Vydia, known for its work with artists such as Akon, Kanye West, Mr Eazi himself, and Anuel, was bought by gamma which has Apple and Eldridge Industries and A24 listed as some of its investors.
Speaking of the deal, Larry Jackson, in a statement on Tuesday, 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.”
Since Mr Eazi launched 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.
Prior to these, 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.