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Scooter Braun and Zach Katz’s Raised In Space investment vehicle “forges proactive collaboration between music and technology”
By Anna Grace on 05 Feb 2019
Former BMG president Zach Katz has launched investment vehicle Raised In Space Enterprises with Scooter Braun’s Ithaca Holdings and Ripple’s Xpring, an initiative focused on developing blockchain projects.
Raised In Space Enterprises provides funding to entrepreneurs with technology solutions across all aspects of the music industry, including ticketing, touring and fan engagement. Investments range from US$500,000 to $5 million.
The company hopes to capitalise on its partnership with Ripple’s Xpring, integrating blockchain technology and the digital asset XRP to benefit and impact the music industry.
“We will unify the most forward-thinking leaders in both music and technology to foster a community and ideas that will ultimately catapult the music industry into the future,” states Raised In Space founder and chief executive, Katz.
Katz launches the investment vehicle following his December departure from the US division of music publisher BMG, where he held the position of president. He teams up with famed artist manager, Braun, and technology and music entrepreneur, Shara Senderoff, in founding Raised In Space.
“The relationship between music and technology has massive untapped potential”
Braun, who manages Justin Bieber and Ariana Grande, is the founder of venture-capital firm Ithaca Holdings and an early investor in numerous technology companies.
“The relationship between music and technology has massive untapped potential,” says Braun. “I’m excited to launch a company focused on bridging these two industries in a transformative and actionable manner that raises the value of music.”
Braun has worked with Ripple’s Xpring, a blockchain technology and investment firm, on various projects. The company is “excited about blockchain’s potential to solve problems in the entertainment space,” says Ripple’s Xpring senior vice president, Ethan Beard.
“Xpring is about empowering the best entrepreneurs to apply technologies like the XRP Ledger in new and novel ways. We are excited to see how the entrepreneurs they [Kantz, Braun and Senderoff] back will build new solutions that can reshape the music industry.”
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