Mavin Records Attract Multimillion-Dollar Equity Investment From Kupanda Capital

Mavin Records Attract Multimillion-Dollar Equity Investment From Kupanda Capital

MAVIN
RECORDS, Africa’s industry-leading music label, announces its
multimillion dollar equity investment partnership with KUPANDA HOLDINGS.
Mavin is focused on scaling operations to meet the rapidly growing
international demand for African music, on growing its roster and on
strengthening its services across A&R, touring, marketing,
distribution, publishing and partnerships.

“Our
mission is to grow Mavin Global into the music powerhouse of Africa”,
explains Michael Collins Ajereh a.k.a Don Jazzy, Mavin Global President
and Founder. “By collaborating with artists, African creatives, local
and international partners, we can become a globally recognized
household name and the go-to platform for connecting African music with
the world.”

Mavin
is home to iconic African artists like Tiwa Savage and Korede Bello.
Since its inception in 2012, Mavin has been an industry leader in
leveraging digital platforms like Youtube, Twitter and Instagram, both
to reach local audiences and grow significant fanbases among the African
diaspora in the US, Europe and UK. This investment will enable the
company to strengthen this advantage as it develops brand partnerships
that support its artists’ values and stories.

“With
the resources and operational capacity Kupanda Capital brings along
with its investment, Mavin is now ready to grow our artist roster and
facilitate partnerships at a global scale. We are looking to build an
institution that will support the fantastic creative ecosystem in
Africa, and move Afrobeats to the forefront of the global industry,”
said Tega Oghenejobo, Chief Operating Officer of Mavin Global.

Nigeria
is the most populous country in Africa with a population of 180
million, and its music industry is projected to grow rapidly with
increasing smartphone penetration and the popularity of Youtube,
Twitter, Instagram and, increasingly, digital streaming platforms.
Across Africa, in cities like Lagos and Abidjan, the market for live
shows is increasing as well.  Meanwhile, according to the most recent
publicly available data from industry trade body, IFPI, the global
recorded music market grew by 8.1% in 2017, reaching $17.3 billion that
year on the strength of digital streaming revenue.  That growth is
expected to have continued in 2018,presenting an excellent environment
for Mavin to market its music globally.

“Between
Don Jazzy’s leadership in defining the sound of modern Afrobeats and
developing top African artists, Mavin Global has a unique advantage and
opportunity to build the record label that will accelerate the promotion  of
African popular music to the world. We are impressed by the Mavin
team’s experience and are pleased to partner with them in their next
phase of growth.” said Bobby Pittman, Co-Founder and Managing Partner at
Kupanda Capital.

“This
partnership is an excellent opportunity for us at Kupanda Capital to
deploy our business building capabilities alongside our data-driven
knowledge of the African consumer to scale Mavin’s operations across
Africa, and globally.” said Linda Oramasionwu-Leverette, Co-Founder and
Partner at Kupanda Capital. 

Korede
Bello, whose global breakout hit “Do Like That” has been streamed over
200 million times worldwide, is among the artists enthusiastic about the
partnership. “I’m overjoyed to be part of this new era for Mavin. With
the support of this team, I’m excited to release new music for my fans
and connect with even more music lovers across the world.”