Veteran UK-based electronic-music firm AEI Media is launching a new offshoot called AEI Ventures.
It wants to invest in founders and startups in the music and hospitality sectors, but it’s got a particular focus on people “from historically excluded or marginalised backgrounds”.
The new arm will be funded by profits from the main AEI Music business, with plans to offer funding, mentorship and other support to the companies it backs.
“The launch of AEI Ventures is a crucial next step in our mission to transform the culture of the music industry,” said COO Sarah Cole.
“For too long, the access needed to get a foot in the door or investment to reach the next level has been limited for many communities. We are excited to play a part in changing this.”
AEI already has a decent track record of spotting talented young founders: Luke Hood (of UKF) and Billy Woodford (of NCS, formerly NoCopyrightSounds) are two who it brought into its business in the past.
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