In February, it was reported that the firm has raised $135 million.
Today (April 5), Geiger’s SaveLive venture has confirmed that it has indeed raised $135 million, from investors including Breyer Capital, Deep Field Asset Management, Raptor Group, and Shamrock Capital.
According to SaveLive, these funds will be used to “invest into the independent live music community”.
When the NYT first reported on the story, it wrote that Geiger was planning to acquire at least 51% of his venue partners’ businesses.
The website also lists SaveLive’s team of “specialists” from across live music business.
Amongst the execs on SaveLive’s team are co-founder and industry veteran John Fogelman (CEO, FactoryMade Ventures) and VP of Talent Dave Poe (President of Patchwork Presents and Co-Founder of the Independent Promoter Alliance).
SaveLive also names Terry Pouchain as Chief Operating Officer.
Pouchain, founder and President of Sycamore Consulting International, Pouchain brings 30 years’ experience including advisory positions in M&A, business development, international financial transactions, and other positions in the entertainment industry.
Over the past 30 years, he has worked closely with Paul McCartney, Sting, Elton John, Michael Jackson, Luis Miguel, Supertramp, Neil Young, Andrea Bocelli, and Tony Hawk, acting as COO, CFO, Tour Financial Director, Consultant, Business Manager, Controller or Tour Accountant.
Michael Shippee, meanwhile, a former SVP of Finance, Strategy + Operations at Live Nation, has joined SaveLive as SVP, Finance.
“As an independent booker for Spaceland, The Echo, and 100 other places since the beginning of time, being able to partner with SaveLive is a dream come true.”
Liz Garo, The Alibi
The Alibi’s Liz Garo, said: “As an independent booker for Spaceland, The Echo, and 100 other places since the beginning of time, being able to partner with SaveLive is a dream come true.
“(Alibi co-owner) Melanie Tusquellas and I can stay true to our roots knowing we have their full support, whether its finance, booking, marketing, sponsorship, questions about the bar or just bouncing ideas off the team.
“It doesn’t hurt that we’ve known some of the people at SaveLive for years – we all came up through the business together.”
“Having SaveLive in our corner gives us even more confidence to keep growing our business.”
Thomas Cussins, Ineffable Music
Ineffable Music President and Golden State Theatre owner, Thomas Cussins, said: “As Ineffable Music continues to focus on bringing top notch national acts to secondary and tertiary markets, getting involved with Marc (Geiger), John (Fogelman), and SaveLive to re-launch the Golden State Theatre in Monterey, CA was a no brainer.
“At Ineffable, we open new outlets for touring acts, creating a more vibrant live music scene–both for the artists and for the fans who deserve to have great music in their backyard. Having SaveLive in our corner gives us even more confidence to keep growing our business.”
“We are working to build and assist our network of independent venue partners and they are enabling us to fulfill that mission.”
John Fogelman, SaveLive
John Fogelman, SaveLive co-founder, said: “When I was 14, I started working for my uncle Lou in one of his record stores, and by the time I was 23, he invited Shamrock Capital in as his partner.
“I loved those days, and it was poetic for me to call on Shamrock when Marc and I were looking for a strategic financial partner. We are working to build and assist our network of independent venue partners and they are enabling us to fulfill that mission.”
“Partnering with the stewardship of Marc, John, and the entire team of executives at SaveLive right now is remarkable.”
Andy Howard, Shamrock Capital
Shamrock Capital Partner, Andy Howard added: “Partnering with the stewardship of Marc, John, and the entire team of executives at SaveLive right now is remarkable.
“SaveLive is built to bring a ton of value to their partners – from booking to capital investments and more. There is no better time to be backing this team and investing in live entertainment.”
“When John and I started this mission in late 2020, the live business was feeling pretty hopeless as the pandemic was hitting the sector head on.”
Co-founder and CEO Marc Geiger said: “When John and I started this mission in late 2020, the live business was feeling pretty hopeless as the pandemic was hitting the sector head on.
“All I did during this time was listen to music and obsess on ideas on how to help the independent live industry. It was clear streaming services plus the pandemic changed the concert industry for good and web 3.0 is going to change it even more. All of this created a huge punch list of possibilities and to-do’s.
“We used that downtime to raise capital of like-minded and long-term investors, build a music focused team of professionals, and ultimately build out version 1.0 of our partner network. 18 months later, the live business is rushing back to record levels…and it’s time to launch.”Music Business Worldwide