Wyclef Jean’s Carnival World Music Group has raised $25 million in capital funding, reports Forbes.
The new music publishing and distribution company is focused on creative talent in Africa and other emerging markets.
The news of the investment follows last month’s announcement that Wyclef Jean entered into a new collaborative partnership with Entertainment industry finance firm Sound Royalties.
A native of Haiti who immigrated to the US when he was nine, Wyclef Jean rose to stardom as a founding member of the Fugees, whose 1996 album, The Score won two GRAMMYs.
“The demand for music from Africa and other developing regions is growing, and these professional creatives deserve to be a part of the international music marketplace.”
Wyclef Jean, speaking last month
Speaking last month, Wyclef Jean said: “The demand for music from Africa and other developing regions is growing, and these professional creatives deserve to be a part of the international music marketplace.
“There is a need for them to have open access to global publishing and distribution options that protect their rights and ensure they’re fairly paid.
“This initiative not only introduces and launches new talent, but helps creatives around the world thrive in their careers.”Music Business Worldwide