Mavin Records, one of Nigeria’s best-known local record labels, has secured a multi-million dollar investment from Kupanda Holdings.
Kupanda Holdings is a joint venture between pan-Africa investment company Kupanda Capital and TPG Growth. If the name TPG rings a bell, that’s because the funding house is already a significant investor in the likes of Spotify, CAA, Uber, Airbnb and STX Entertainment.
Mavin Records was founded in Lagos in 2012 by producer Don Jazzy – who formerly co-owned Mo’ Hits Records with Nigerian star D’Banj.
The label is home to local artists like Tiwa Savage, Johnny Drille, Di’ja, D’Prince and Korede Bello (pictured), whose breakout hit Do Like That has been streamed over 200m times worldwide.
Mavin’s own YouTube channel has over 680,000 subscribers, and its videos have been viewed more than 353m times on the platform to date.
Mavin told MBW that it will use Kupanda’s investment to scale its operations under the Mavin Global brand in order to meet “rapidly growing international demand” for African music. This will include growing its roster and strengthening its services across A&R, touring, marketing, distribution, publishing and partnerships.
Don Jazzy is also one of the founders of Flobyt Wifi, a startup that offers free wifi service across different locations in Lagos including; eateries, parks, taxis, buses, restaurants, cafés and many more.
Source: Music Business Worldwide