UK - SPARK's Kobalt Music Group signs agreement with Balderton
SPARK Ventures Plc portfolio company Kobalt Music Group Ltd, an independent music publisher has signed an agreement with Balderton Capital whereby Balderton will invest new equity in Kobalt. This transaction will result in a 60% uplift in the valuation of SPARK's investment in Kobalt, increasing from £4.4m to £7m. The agreement will also see Tim Bunting, partner at Balderton Capital and an ex partner of Goldman Sachs, join the board of Kobalt.
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