BGF invests £3m in Sentric Music

The fresh capital will allow the business to undertake an international expansion strategy and pursue potential bolt-on acquisitions. It will also invest in new services and the development of its platform.

The music industry has attracted investment from private equity and venture backers throughout the years, with mixed fortunes. Terra Firma's take-private of listed group EMI notoriously turned sour when the company entered administration in 2011, leading to a lengthy legal wrangle.

However, institutional fund managers have enjoyed more success with investments in more disruptive models, such as online streaming company Spotify and live performance related companies such as SongKick.

In the music licensing space, Creandum provided $5m of series-A funding for Epidemic Sound, a Stockholm-based music library for online and broadcast video production companies, in May 2014.

A spokesperson for BGF declined to provide additional financial details related to the Sentric deal.

Company
Founded in 2006 and headquartered in Liverpool, Sentric is a music publishing, licensing and royalty collection company. The business works with 90,000 songwriters, providing them with an online platform for registering work, tracking royalties and submitting work to be considered for use in television, films, games, adverts and promotional media.

Sentric has a headcount of 40, with additional operations in London, Hamburg, Amsterdam, New York and Los Angeles.

People
Business Growth Fund – Neil Inskip (investor).
Sentric Music – Chris Meehan (CEO).

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• Topics
• Expansion
• UK / Ireland
• Media
• United Kingdom
• Venture
• BGF (Business Growth Fund)