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Believe Digital

private placement

TCV, XAnge, Ventech, GP Bullhound Sidecar

June 2015

 

About the Client

Following its recent acquisition of TuneCore, Believe Digital has become the global fully independent market leader in distributing music and video to online streaming and download services. Created in 2005 with offices now in 30 countries, the company’s international presence, digital marketing expertise, and its capabilities for technical innovation and transparency, are being leveraged by independent artists and labels who desire to make the most of their music in a global digital world.
 

About the Deal

GP Bullhound acted as the exclusive financial advisor to Believe Digital on a growth capital investment of $60m from Technology Crossover Ventures (TCV), XAnge and GP Bullhound Sidecar. The backing of TCV, who has deep knowledge of the digital music and video space, the increased investment from XAnge and GP Bullhound Sidecar, and the continued trust of Ventech are a statement of confidence in Believe Digital’s strategic vision and ability to execute. TCV has funds under management of $10bn and investments include Spotify, Netflix, Facebook and Homeaway.

 

Quotes

CEO and Founder of Believe Digital Group, Denis Ladegaillerie said: “GP Bullhound has been instrumental in finding the right investors for the next part of Believe Digital’s journey. Their expertise in the digital music sector, their global network and their deal making skills have been crucial to the success of this transaction.”
 
Manish Madhvani, Managing Partner GP Bullhound commented: “Believe Digital has created a truly unique position in the digital music value chain, and the partnership with TCV will allow the team to cement their leadership in the sector. We are proud to be associated with one of the largest growth capital rounds in France in recent times.”
 

Press

Music Business
Music Week