The frontman of Passion Pit, Michael Angelakos, is launching a company to provide legal, educational and healthcare services to musicians.
Mashable, which broke the story ahead of an expected announcement this week, included one eye-popping figure. “The New York City-based company, called The Wishart Group, has raised $250 million in funding, with contributions from big names in the music and tech industries,” claimed its report.
$250m? Every other report on the news cites the same figure but leads back to the Mashable piece. If it’s not an accidental zero ($25m would be less of a surprise) then The Wishart Group is instantly one of the most heavily-funded startups launched by a musician.
However much money it’s raised, the company’s mission is timely: mental health will be a key focus for its activities, at a time when that topic is being discussed more openly within the music industry.
We’ll await the official announcement this week for more details, although Mashable claimed that “the board, still growing, is comprised of tech leaders in various fields, including music distribution platforms and the artificial intelligence community” – so there may be some other familiar figures involved.
The Wishart Group also has a YouTube channel, although so far it’s only been used (yesterday) to publish a new video from Passion Pit.