Former BMG President Zach Katz, who exited the company in December 2018, has teamed with Scooter Braun‘s Ithaca Holdings to launch Raised In Space Enterprises, an investment group focused on creating collaboration between music and technology, with investments ranging from $500,000 to $5 million. Katz joins Raised In Space as partner and CEO.
Ripple’s Xpring, an initiative that focuses on helping new blockchain products, and music entrepreneur Shara Senderoff are also involved in the project.
“The relationship between music and tech has massive untapped potential,” said Braun, who is also head of SB Projects and manages artists including Ariana Grande, Justin Bieber and Dan + Shay. “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.”
“Writing the check is easy. Hands-on guidance, time, and strategy is the real investment,” says Katz. “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.”
“We’re excited about blockchain’s potential to solve problems in the entertainment space – from new ways to monetize 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,” said Ethan Beard, SVP of Ripple’s Xpring. “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.”
Raised In Space is headquartered in Santa Monica, California.
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