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Plus Eight Equity Partners Closes Inaugural Music Technology Focused Venture Fund
May 16, 2017 08:00 AM Eastern Standard Time
NEW YORK–(BUSINESS WIRE)–Plus Eight Equity Partners announced today the final closing of its inaugural Plus Eight Equity Fund LP (“Plus Eight Equity”, “Plus Eight Fund”, “Plus Eight”, “Fund”), a New York based venture fund that has partnered with electronic music industry leaders to invest in groundbreaking music technology companies worldwide.
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.
About Plus Eight Equity Partners
Plus Eight Equity Partners is a global venture capital firm that has partnered with electronic music industry leaders to invest in groundbreaking music technology companies. Plus Eight leverages its deep sector knowledge, world class relationships and influential position in the market to build long-term value in its portfolio company investments. The Principals of Plus Eight have over 100 years of combined experience in the electronic music and music technology industries. For more information, please visit www.plus8equity.com.
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For more information, contact:
Alexandra Greenberg/MSO PR
818-380-0400 x223, agreenberg@msopr.com
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