Former BMG president Zach Katz has partnered with Scooter Braun on an in investment group focused on innovative tech solutions for the music industry.
Raised In Space Enterprises aims to create collaboration between music and technology with investments ranging from $500,000 to $5 million. It will leverage its partnership with Ripple’s Xpring to integrate blockchain where it can impact the music industry.
Raised In Space is founded by Braun’s Ithaca Holdings, Katz and Ripple’s Xpring. The team also includes tech and music entrepreneur Shara Senderoff.
Braun has guided the careers of major artists such as Justin Bieber and Ariana Grande through his company SB Projects.
“The relationship between music and tech has massive untapped potential,” said Braun. “I’m excited to launch a company focused on bridging these two industries in a transformative and actionable manner that raises the value of music”.
Zach Katz joins as CEO and partner of Raised In Space.
“Writing the cheque is easy,” he said. “Hands-on guidance, time, and strategy is the real investment. There has to be consistent collaboration and conversation – we get into the bones of these companies to help them see and reach their highest potential. We will unify the most forward-thinking leaders (the outliers, the out of this world thinkers who feel like they were raised in space) in both music and tech to foster community and ideas that will ultimately catapult the music industry into the future.”
Ethan Beard, SVP of Ripple’s Xpring, added: “We’re excited about blockchain’s potential to solve problems in the entertainment space - from new ways to monetise creative content to innovative fan engagement models that were not previously possible. Xpring is about empowering the best entrepreneurs to apply technologies like the XRP Ledger in new and novel ways.
“Raised In Space is an extension of that effort, and we couldn’t ask for better partners than Zach, Scooter and Shara. Forming the company is an important first step, now we’re excited to see how the entrepreneurs they back will build new solutions that can reshape the music industry.”
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