In April last year, Japan-based music and entertainment company, Avex Group, expanded into North America with the launch of Avex USA.
At the time, Avex noted that its North American branch, led by President Naoki Osada, would have three core business divisions, Avex USA Publishing, Avex USA SELENE trademark, and ‘Future of Music Investment’ Fund’.
Avex says the Future of Music Fund was created to invest in what it describes as “advanced music-related tech startups that are creating revenue models, music experiences and new IP”.
Today, Avex revealed that it is expanding the size of the fund to $25 million.
In addition to expanding its investment budget to $25 million, Avex USA said it is expanding its investment in music tech startups to early-stage businesses related to cryptocurrency and NFT, with a broader focus on Web3, metaverse, and the creative economy.
Avex USA says it aims to work with the companies in its portfolio to “develop new IP/experience/ and revenue channels in music and entertainment, while providing them with strategic support and guidance to address the Japanese music market”.
In Japan, the world’s second largest music market, Avex USA’s parent company, Avex, is often considered the country’s fourth largest.
The Avex USA Music Foundation has previously invested in companies like Wave, also attracting investment from Scooter Braun and Justin Bieber, and has hosted virtual streams with Bieber and The Weeknd.
Other companies it has invested in to date include ‘virtual artist record label’ Spirit Bomb/Strangeloop movie studioand Endel, worked with James Blake and Grimes, and was also named one of Apple‘best app’ of 2020.
Avex USA is located at Avex House in West Hollywood, a recording studio and creative hub that has attracted artists ranging from Cardi B, James Blake, A$AP Rocky, Normani, PARTYNEXTDOOR, Anitta and more .
The fund’s investment committee includes Naoki Osada, President of Avex USA and music industry veteran, Ryusuke (Ryan) Kamada, SVP of Finance, and former JP Morgan Investment Bank, and Lucas Thomashow, SVP of Chien comb and formerGoogle.
“We believe now is the time to expand Avex USA’s investments.”
Naoki Osada, Avex USA
Speaking to MBW, Naoki Osada, President of Avex USA, said: “We have been very fortunate to have achieved great success in investing in really promising music technology companies since the foundation of the fund. mine.
“All of the founders and their ideas have inspired us in so many ways.
“We believe now is the time to expand Avex USA’s investments, to further innovate as a next-generation music company, and to contribute to the growth and growth of Avex USA. music industry and the Web 3”.
Over the past 12 months, Avex USA has achieved global agreement with Sony Music Publishingand in January it extend joint publishing partnership with S10 Publishing.Worldwide music business
