Zach Katz, the CEO of Beluga Heights Records, known for signing popular artists such as Rihanna, Leona Lewis, and Sean Kingston is all set for a new venture called “Raised In Space” along with Ithaca Holdings’ Scooter Braun.
Billboard reported the news, stating:
“Raised In Space will fund entrepreneurs with tech solutions for the music space across all areas, including creation, distribution, fan engagement, ticketing and touring, and guide the projects through to market adoption.
Raised In Space will leverage its partnership with Ripple’s Xpring to integrate blockchain and the digital asset XRP when applicable. Investments per company will range from $500,000 to $5 million.”
Xpring is a stand-alone initiative aimed at fostering a healthy XRP ecosystem/market, launched by Ripple at the start of 2018. Xpring will boost and stabilize XRP and help create an ecosystem to build more use-cases for implementation of XRP in real-life scenarios.
The newly set up company will be based in Braun’s office in Santa Monica with Katz acting as the CEO. The former president of BMG, Katz will be joined by Shara Senderoff, the co-founder of Intern Sushi who was named to Forbes 30 Under 30.
Katz stated that he had greatly enjoyed his position at BMG for six years, he also stated:
“Over the last five-plus years every time I’d have one of these conversations with tech founders I’d find myself being super fired up, but the reality was I had to go back to my day job the next morning, so I could never engage… I had that look-in-the-mirror moment and thought about my future and I felt I wanted to have different conversations. I wanted to have a different context for everything that I‘ve learned.”
Katz, a great believer in technology and an entrepreneur said that he never understood why so many people in the music industry were reluctant to engage with technology when it could boost the strength of creative people. He continued that there weren’t any major players in the industry trying to merge music and technology.
“@katemossalike I’ve been saying about someone doing this for ages it’s about time”