TPG Growth invests in lyric library Musixmatch

TPG closed its latest growth fund, TPG Growth Fund V, in August 2021 at USD 3.6bn. It was already 42% deployed as of that month, according to Unquote Data. 

The GP said it had made a "significant strategic investment" in Musixmatch, which will allow it to advance the lyric content, tools, enriched metadata and other services. 

TPG also said that the investment will allow Musixmatch to expand its offerings internationally and in new verticals. 

Musixmatch provides eight million lyrics in 80+ languages to some of the world's biggest tech platforms including Google, Instagram, Spotify and Apple Music. 

The company has relationships with more than 100,000 music publishers globally, including BMG, Kobalt, Sony Music Publishing, Universal Music Publishing, and Warner Chappell.

It last raised equity in a EUR 4.5m venture round in 2016, backed by Micheli Associati, P101 Venture, and United Venture. 

Advisors

Musixmatch - Citi (finance); Legance (legal).

TPG - Ropes & Gray (legal); Chiomenti (legal).

 

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