“This news reflects the growing interest that professional investors and family offices are showing in the music sector. The second half of the year promises to be full of news, as we plan to market our first Asian music catalogue later this summer and launch the ANote Backstage Pass loyalty programme. The royalty market has never been healthier and we expect much more growth and more reputable rights holders to list catalogues on the ANote Music platform.”
ANote Music founder and CEO Marzio Schena is taking things a step further. In a discreet blog post published at the end of July, Schena announced that he was opening up investment in his music rights platform to professional investors via Music Royalties Enhanced Strategy Certificates (MRESCs).
According to this blog post, “nearly 90% of investors on the ANote platform are profitable, with average annual returns of more than 10%. ANote Music is on track to exceed €500,000 in total royalties distributed before the end of 2023, while ANote Music has an active trading platform market capitalisation of €25m.” ANote Music has an investor community of over 25,000 registered accounts in 62 countries.
But this announcement is also a way of announcing a new round of funding, the amount of which is not so clear. The total raised so far is €3.3m. That would make €2.5m in new money if we stick to the startup’s communication so far, which corresponds to the data available on Dealroom Luxembourg, with which Luxembourg’s minister for the economy, (LSAP), and the CEO of Luxinnovation, , announced a partnership in June at Vivatech.
“More than €500,000 of this funding came from Algorand Ventures and ACME Innovation, while the additional capital increase was also partly financed by ANote Music obtaining the Young Innovative Enterprise Grant via Luxinnovation, enabling the company to receive additional support from the Luxembourg ministry of the economy.” The support is capped, according to guichet.lu, at €1.4m euros.
“ANote Music is a natural choice for Algorand Ventures, as it represents a unique and exciting use case for the tokenisation of real-world assets, and offers an asset class previously inaccessible to our ecosystem. We are excited to see ANote leverage the lightning-fast speed, reliability and security of the Algorand blockchain to facilitate the trading and distribution of payments to investors and artists on their platform,” said Algorand Ventures executive vice president Ryan Terribilini.
This story was first published in French on . It has been translated and edited for Delano.