London-based independent creative music rights company Bella Figura Music, launched by former BMG UK President Alexi Cory-Smith, has successfully closed “a significant equity funding round” led by private equity firm Freshstream.
The round also secured investments from a consortium of institutional investors including the Canadian pension fund OPTrust, a strategic family office and a Dutch private equity investor, according to a press release on Tuesday (April 9).
While the company did not disclose the size of the investment, it said the funds will fuel its global catalog acquisitions and further develop its approach to artist and rights owner services.
Freshstream is an existing shareholder in the company, having invested ‘upwards of EUR €30 million’ (approx. USD$32.6 million) in Bella Figura when it launched, according to a profile in The Times.
“We aim to continue building and enhancing our catalog of beautiful music while generating significant value for creators and rights owners.”
Alexi Cory-Smith, Bella Figura Music
The investment from Freshstream allowed Bella Figura to acquire Guy Chambers’ publishing catalog, including Robbie Williams hits such as Angels, Feel and Let Me Entertain You, as well as David Gray’s record label IHT, which controls all of his albums from the breakthrough 1998 White Ladder to the 2019 hit Gold In A Brass Age.
Bella Figura continued to expand its catalog with acquisitions including the music catalog of Jeff Silverman (Aloe Blacc, Adele, Lee Fields, Truth & Soul) and most recently, the writer’s share of Human League co-founder Adrian Wright.
Freshstream invests in growing businesses based in Western Europe, particularly in the UK and Benelux markets, according to its website. The company says it has €30 million to €100 million in equity investment and typically buys majority stakes, “but with flexibility to take minority positions and invest across the capital structure.”
“Alexi and Neelesh have continued to demonstrate that they are right on the pulse of the music industry, with a knack for identifying the catalogs with the most potential.”
Giuseppe Silvestri, Freshstream
“We have achieved a lot in just over 2 years, but there is so much more we have planned. We aim to continue building and enhancing our catalog of beautiful music while generating significant value for creators and rights owners,” said Alexi Cory-Smith, CEO of Bella Figura Music.
“Bella Figura is built for the digital music age, unburdened by legacy systems with a strategy that truly reflects how we all access and consume music in today’s world. We are delighted to have a growing base of investors joining us on this journey.”
Giuseppe Silvestri, Venture Partner at Freshstream, added: “Alexi and Neelesh have continued to demonstrate that they are right on the pulse of the music industry, with a knack for identifying the catalogs with the most potential and developing a proposition which benefits rights owners and investors alike. We are excited to grow the partnership further with the next wave of investment in BFM.”
“Bella Figura Music represents a fresh approach to an evolving industry,” said Morgan McCormick, Senior Managing Director and Head of Europe, OPTrust. ” Investing in the future of music aligns with OPTrust’s long-term focus and our mission to deliver a secure retirement to our members. We are thrilled to be investing to support the future growth ambitions of the business.”
Music Business Worldwide
