Music Industry News Network [06-11-2017]

Plus Eight Equity Partners Closes Inaugural Music Technology Focused Venture Fund

MI2N www.mi2n.com

Plus Eight Equity was co-founded by Richie Hawtin, John Acquaviva and Rishi Patel. Richie Hawtin serves as Chairman of the Advisory Board alongside Pete Tong and Ben Turner who are members of the Advisory Board. Members of the team have been investors, founders, and employees of prominent technologies and organizations including Beatport LLC, Final Scratch, Morgan Stanley & Co., Perella Weinberg LP, Jefferies LLC, BBC Radio 1, WME IMG LLC, and IPC Media / Time Warner.

Plus Eight Equity has been formed with commitments from a global limited partner base that spans the U.S., Canada, U.K., Europe, Australia, Latin America, Asia and South Africa. The group includes high profile electronic music artists, music labels, artist agencies, leading event promoters, venue owners, family offices and other influential figures in the music technology and finance spectrums.

"The Plus Eight Equity Fund is the next evolution of an idea John Acquaviva and I formulated over 25 years ago, inspired by our mutual fascination with technology and the developing musical style of Techno, a style so intertwined with technology that its very name had been derived from it, Techno(logy)." said Richard Hawtin, Co-founder and Advisor Board Chairman. "Plus Eight Equity was started to finally formalize something we had been doing all along; to be the catalyst for evolution of our digital world."

"Plus Eight is extremely well-positioned to capture the opportunities presented by the next paradigm shift of music." said John Acquaviva, Co-Founder and Managing Partner. "We live in a world where music is increasingly more than just music as it blurs between the lines of the gaming, virtual reality, film, automotive and other industries."

The Fund closes with a strong portfolio of companies including Doppler Labs, LANDR Audio, Merchbar, Next Generation Esports, Pacemaker, Splice, Subpac and VNTANA. Plus Eight Equity will focus on earlier stage music technology opportunities with select participation in growth equity investments.

Source: http://www.mi2n.com/press.php3?press_nb=198378

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