Swedish alternative-investments firm EQT has taken a 40% stake in production-music company Epidemic Sound, whose CEO Oscar Höglund we interviewed earlier this week about this summer’s ‘fake artists’ controversy.
The investment also sees VC firm Creandum upping its stake in Epidemic Sound to 20%, although the actual investment amounts and valuation have not been announced.
Epidemic Sound says it plans to use the funding to continue its expansion globally, as well as its move from being a purely-B2B production library into a B2C company that releases its composers music through streaming services.
“We are at an inflection point where we have the opportunity to capitalise on these trends and introduce new models and a new way of working for musicians – these kinds of chances don’t come around very often,” said co-founder Jan Zachrisson. “Teaming up with EQT supercharges our business and thinking.”
This week’s news follows a strategic investment in Epidemic Sound this April by Kichi Invest, which valued the company at around $45m.