Live Nation is planning to back a new wave of live-music businesses led by women, with the launch of an early-stage investment fund called the Women Nation Fund.
It’ll focus on startups and music companies in the concert promotions, festivals and live-venue management spaces, with an eye to funding companies worldwide. Live Nation says the fund has been set up in response to the underrepresentation of women in the live-music business.
“As the leader in live entertainment, we want to meaningfully address this issue, change the dynamic and widen the playing field,” said president and CEO Michael Rapino. “The Women Nation Fund is a first step towards empowering new entrepreneurs and creating more opportunity for women in this sector of the live music business.”
Live Nation has created an ‘evaluating’ team of women from across its business to assess applications to the fund. As with any announcement of this type, it sounds like a very valuable initiative, but the proof will come in actually delivering it, in terms of the number and quality of founders supported, and the impact it has on their businesses.