Lagos-based Mavin Records has announced a multi-million dollar equity investment partnership with Kupanda Holdings.
The label, which has a roster including Afrobeats acts, will work to scale its operations to meet the growing international demand for African music. The investment will help Mavin build its roster and strengthen operations across A&R, touring, marketing, distribution, publishing and partnerships.
“Our mission is to grow Mavin Global into the music powerhouse of Africa”, said Michael Collins Ajereh, aka Don Jazzy, Mavin Global president and founder. “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.”
Mavin is home to African artists including Tiwa Savage and Korede Bello. Since its inception in 2012, it has utilised digital platforms to reach local audiences and grow significant fanbases among the African diaspora in the US, Europe and UK. The investment will enable the company to develop brand partnerships for its artists.
“With the resources and operational capacity Kupanda Capital brings along with its investment, Mavin is now ready to grow our artist roster and facilitate partnerships at a global scale,” said Tega Oghenejobo, COO of Mavin Global. “We are looking to build an institution that will support the fantastic creative ecosystem in Africa, and move Afrobeats to the forefront of the global industry.”
“Between Don Jazzy’s leadership in 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 the promotion of African popular music to the world,” said Bobby Pittman, co-founder and managing partner at Kupanda Capital. “We are impressed by the Mavin team’s experience and are pleased to partner with them in their next phase of growth.”
“This partnership is an excellent opportunity for us at Kupanda Capital to deploy our business building capabilities alongside our data-driven knowledge of the African consumer to scale Mavin’s operations across Africa, and globally,” said Linda Oramasionwu-Leverette, co-founder and partner at Kupanda Capital.
“I’m overjoyed to be part of this new era for Mavin,” said Korede Bello, whose track Do Like That has been streamed 200m times. “With the support of this team, I’m excited to release new music for my fans and connect with even more music lovers across the world.”