Oluwatosin Ajibade, better known as Mr Eazi, has made headlines for selling Vydia, the portfolio company of his venture capital fund, Zagadat Capital, for a whopping $1 billion.
The digital audio and video distribution infrastructure company was acquired by Gamma, a music and technology firm owned by former Apple Music Executive, Larry Jackson.
While Mr Eazi rose to fame as a musician, his success in the music industry inspired him to invest in and support other up-and-coming artists. This led him to launch his venture capital fund, Zagadat Capital, in 2018, which focuses on investing in African startups.
News About Nigeria gathered that Vydia was one of the startups that received funding from Zagadat Capital, and Mr Eazi’s vision and guidance helped the company grow and succeed. The acquisition by Gamma is a testament to the success of Mr Eazi’s investment strategy and his belief in African entrepreneurship.
In addition to his role as a venture capitalist, Mr Eazi is also the owner of music distribution platform emPawa. The platform has previously worked with artists like Mr Eazi, Fave, Joeboy, Darkavibes, and Bella Alubo, and has helped to bring African music to a global audience.
The sale of Vydia for $1 billion is not only a major accomplishment for Mr Eazi, but it also represents a significant milestone for the Afrobeats music industry. Mr Eazi’s success as a musician and a venture capitalist has shown that there is great potential for African entrepreneurs and startups, and that the future of the continent is bright.
As Mr Eazi continues to support and invest in African startups, his legacy as a pioneer in the Afrobeats industry will only continue to grow.
