Nigerian popular music star Mr. Eazi has sold Vydia, the portfolio company of his venture capital fund, Zagadat capital, for $1 billion (approximately 600 billion FCFA) to Multi-faceted company Gamma.
Vydia was founded in 2021 by Mr. Eazi and it has been known for its works with artists like Kanye West, Akon and Mr. Eazi himself.
Speaking of the deal, Larry Jackson, the CEO of gamma, 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.”
Zagadat Capital has investments in tech and music companies like creative finance/IP company emPawa (his company), Ticketing platform – SHOOBS, Paisa, Eden Life, African fintech Pawapay, and Africa basketball team CapeTown Tigers.
Many believe that African top billionaire, Femi Otedola, father of Mr. Eazi’s girlfriend, Temi Otedola, helped him secure the deal.
Now $1billion richer, Mr. Eazi is considered the richest African artist, ahead of Wizkid and Davido.
Source: Daily Post Nigeria/Punch Nigeria