Interesting times are here for one of Nigeria’s foremost record labels, Mavin Records as it secures major investment running into millions of dollars.
The record label headed by Michael Collins aka Don Jazzy just sealed a multi-million dollar worth of investment from Kupanda Holdings.
This new development for the music imprint comes about a month after it lost its top act Reekado Banks who went on to set up his own label. Currently, the label still has Tiwa Savage, Korede Bello, Johnny Drille, Dr. Sid etc on its roster.
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 has expanded to Mavin Global and it hopes to scale in view of “rapidly growing international demand” for music of African origin.
Don Jazzy said “Our mission is to grow Mavin Global into the music powerhouse of Africa,” and continued that it would achieve its goal by “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.”
Speaking on the new investment Bobby Pittman, Managing partner at Kupanda Holdings said, “Between Don Jazzy’s legacy of 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 bringing 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.”