British virtual-reality startup MelodyVR, which focuses on music, is reportedly (ahem) rolling in the deep funding-wise, after Adele became its latest investor.
At least, this is according to the Evening Standard newspaper, which reported that the musician invested in MelodyVR’s parent company EVR Holdings “through a nominee account so her name does not show up on the shareholder register”.
EVR Holdings is actually a public company, listed on the UK AIM index, so any artist, label or other music company can buy and sell shares in it.
“We often hear on the grapevine that well-known musicians and their managers have bought shares, but we rarely have any concrete evidence regarding their holdings as most shares are held within proxy accounts,” said MelodyVR CEO Anthony Matchett when quizzed about Adele’s involvement.
All three major labels have stakes in MelodyVR, negotiated as part of their licensing deals with the company, which is hoping to launch its app this year.
Read our recent interview with Matchett for more on the company’s strategy.