The Raine Group, a global strategic advisory and investment firm, has closed its newest fund, Raine Partners IV.
The total size of the fund is over $760 million, bringing The Raine Group’s total Assets Under Management to nearly $4 billion.
Raine Group is an existing investor in music companies such as SoundCloud, C3 Presents, and Amuse. It is also the primary backer behind Firebird Music Holdings.
As an advisor, Raine Group has been involved in major recent transactions in the music industry including HYBE’s ~$300 million acquisition of Quality Control.
Similar to its predecessor funds, New York and London-based Raine Group says that its new Raine Partners IV fund will invest in growth-stage TMT (Technology, Media, and Telecommunications) companies, with a particular focus on sports, media, entertainment and gaming.
Raine Partners IV has already made its initial investment in Tripledot Studios, a prominent mobile games developer.
Founded in 2009, outside of music, Raine has also made notable investments in the likes of DraftKings, Moonbug, Imagine Entertainment, TelevisaUnivision and VideoAmp.
According to The Raine Group, the new fund was supported by its “strong base of limited partners”, which includes public pension plans, sovereign wealth funds and other institutional investors as well as select strategic corporates and family offices.
Based in London, Barcelona, Warsaw and Jakarta, mobile game maker Tripledot Studios was recently named as the fastest-growing company in Europe by the Financial Times.
“We are pleased to announce the closing of Raine Partners IV,” said Sherri Williams, Partner and Head of Investor Relations and Fundraising.
“We look forward to working with our investors and portfolio companies to achieve their full potential.”
Sherri Williams, Raine Group
“We appreciate this vote of confidence from our limited partners and we look forward to building on our firm’s strong track record of investing in transformative growth companies within our core sectors of focus.
“We look forward to working with our investors and portfolio companies to achieve their full potential.”
John Salter, Co-Founder and Partner of Raine, added: “We are excited to have made our first investment from Raine Partners IV in Tripledot.
“We have known the management team since inception and believe the company is one of the strongest in casual gaming, recently topping the FT/Statista ranking as Europe’s fastest-growing company.
“As a highly profitable business with more than 400 staff and about 50 million monthly active users, we look forward to actively working with their team to drive continued growth in the casual gaming market.”Music Business Worldwide