GoldState Music, the investment firm founded by music industry veteran Charles Goldstuck, has entered a strategic partnership with Bridgepoint Group, the London-listed mid-market investor.
Under the deal, announced on Thursday (February 26), Bridgepoint has committed what the two parties describe as “a significant investment” as lead investor in GoldState’s Growth Strategy – a dedicated fund focused on building and scaling music-oriented businesses globally.
The partnership marks a notable evolution for GoldState.
The company’s two previous fundraises – a partnership with private equity firm Flexpoint Ford in late 2023, and a USD $500 million raise co-led by Northleaf Capital Partners and Ares Management last April – were focused primarily on the acquisition of music rights, including catalogs, master recordings, and publishing assets.
MBW understands that those two funds jointly provided GoldState with approximately $1 billion in spending capacity, of which just over half has been deployed to date.
This new fund, by contrast, is focused on growth equity investments in music and music-adjacent companies – not catalog acquisitions.
Further financial details of the transaction were not disclosed.
However, a source close to the details told MBW: “Charles is looking to deploy up to a billion dollars in growth equity capital over the next few years. This isn’t a billion-dollar raise, but it gives him a mechanism he can upsize to get in that ballpark.”
Goldstuck declined to comment when contacted by MBW.
In the official announcement of the Bridgepoint partnership, Goldstuck said: “The continued expansion of the music ecosystem, coupled with the vibrancy we see in all facets of the industry, makes this one of the most exciting times in recent music investing.
“Partnering with Bridgepoint is a natural expansion of our investment activities, and I could not be happier partnering with Rohit and his team.”
“Led by Charles, GoldState has an exceptional track record of capitalising on these dynamics and is perfectly complemented by Bridgepoint’s growing expertise.”
Rohit Dhote, Bridgepoint
Rohit Dhote, Partner and Co-Head of Credit Opportunities at Bridgepoint, added: “The music space continues to exhibit robust structural growth, supported by streaming expansion and the increasing global independence of artists.
“Led by Charles, GoldState has an exceptional track record of capitalising on these dynamics and is perfectly complemented by Bridgepoint’s growing expertise in providing creative capital solutions across the music ecosystem.”
GoldState says the Growth Strategy will target “growing, profitable companies with healthy organic growth rates, exceptional leadership teams and well-established market positions.”
MBW understands that Goldstuck and his team are currently reviewing potential investments in multiple music and music-adjacent companies, including those operating in artist services, distribution, and various AI-powered players.
Target areas, according to the official announcement, span “the broader music ecosystem, including rights management platforms, digital distribution, music technology and related infrastructure.”
As with GoldState’s previous raises, MBW understands that Goldstuck and his company have made a substantial minority contribution to the new fund – giving the GoldState founder personal ‘skin in the game.’
GoldState has previously made investments alongside financial partners in companies including TouchTunes, the in-venue interactive music and entertainment platform of which Goldstuck serves as Executive Chairman, and Create Music Group, the LA-based distribution, publishing, and data analytics company (alongside Flexpoint Ford).
Bridgepoint Group, which is listed on the London Stock Exchange, says it has over $86 billion of assets under management, with a presence in Europe, North America, and Asia.
The firm’s credit arm, Bridgepoint Credit, has been active in the music space. In June last year, Bridgepoint Credit backed Rezonate Music Rights with $150 million to acquire producer catalog royalty rights globally.
GoldState was founded in 2022 by Goldstuck, who previously held executive positions at major labels including Arista Records, Capitol Records, and J Records, which he co-founded with Clive Davis. He also served as President/COO of the Bertelsmann Music Group (BMG) and was co-chairman of Hitco Entertainment, which was sold to Concord in 2022.
On the rights side, GoldState has been active in catalog acquisitions. The company acquired portfolios from CatchPoint Rights Partners and AMR Songs for approximately $200 million in late 2024, adding stakes in songs by the likes of Kanye West, Sheryl Crow, and Panic! At The Disco.
Music Business Worldwide