The founder's journey, detailing the highs and lows of transitioning from a finance career to revolutionizing music rights, emphasizing.
The founder's journey, detailing the highs and lows of transitioning from a finance career to revolutionizing music rights, emphasizing personal growth and adaptability.
So, you know, obviously, um, >> [clears throat] >> I mean, going through the process sort of chronologically, thinking about how we were going to source the capital uh for for this process. A lot of the money in this space it really sits in the sort of the private credit market um because the asset class is quite real estate-like. It's it's a it's a it's a yielding it's a yielding asset with arguably a bit of equity sort of on top if you can improve the returns. So, um, we went through a very kind of long uh process um as as often is the case um with with with quite, you know, with with a with a lot of due diligence um through through through through the investors that we spoke with. Um, you know, we eventually um had uh as as as often happens with these processes, there was sort of there was sort of it was it was like buses. There was nothing and then suddenly four or five
different institutions were were courting us and asking us to partner with them. Um, mostly in the US actually because a lot of the investors for this for this kind of assets do sit in the United States. Um, but eventually we partnered with Bridgepoint, which is a UK-based private equity fund. Uh, partnered with their private credit business. I think the key differentiation obviously is that you're you're going from, you know, sort of zero to 100 miles an hour very quickly. Um, if if you know, seed raise, you're doing sort of several hundred thousands, you know, dollars or pounds and then you're engaging in your sort of friends and family, etc. and and those kinds of rounds. I mean, when you immediately partner with with a very large um institution uh such as such as Bridgepoint, you know, you've got to be ready to kind of meet meet, you know, meet them meet them there and understand
what that reporting looks like, what what their process looks like, what our process looks like. And so, that that that's that's definitely something that I think is different in this space than perhaps it would be if you were if you were raising um and going through the sort of typical series A, B, C, D um sort of phases. Um, but you know, again, like that's where the partnership is really um fantastic because there's a lot of mutual respect and also, you know, we have uh you know, we we we we've learned a lot as well in the in in in the last year and we've evolved and developed as a business and we you know, materially um you know, evolving all the time and that that you must do as you said in the seed. No one's no one's a complete picture. Um, there's no perfect song as I often say. So, um you know, you you've got to keep you've got to keep learning and we are continuously open to
that.