MUMBAI; Universal Music Group (UMG) describes Mavin as a key player in driving the success of numerous Afrobeats artists across the continent.

Founded in 2012 by Michael Collins Ajereh, also known as Don Jazzy, Mavin has been instrumental in promoting Afrobeats artists within Africa and internationally. The recent news, announced on Monday, comes approximately five years after Mavin received a multi-million dollar investment in 2019 from Kupanda Holdings, a joint venture between Kupanda Capital and TPG Growth. TPG has now exited the business, while Kupanda Capital will remain a minority investor and strategic adviser.

 According to UMG, Mavin will maintain autonomy over its strategy and talent development, with Don Jazzy and COO Tega Oghenejobo continuing to lead the company. The deal is subject to regulatory approval and is expected to close by the end of Q3 2024. Mavin is home to several prominent Afrobeats artists, including Ayra Starr, Ladipoe, Johnny Drille, Crayon, Magixx, and Rema, whose hit single "Calm Down" featuring Selena Gomez reached No.3 on the U.S.

Billboard Hot 100 chart. UMG's investment aims to amplify Mavin's operations in Nigeria through its global network of labels and businesses. Mavin's roster is already integrated into UMG's network, with multiple signings across U.S. labels such as Republic and Interscope. The partnership between UMG and Mavin is expected to accelerate Mavin's strategic advancement and create more opportunities to break talent globally. This includes initiatives like Mavin's Artist Academy and executive leadership program, aimed at developing new talent and industry professionals in Africa.

 Michael Ajereh expressed pride in Mavin's achievements and looks forward to continuing their mission with UMG. Tega Oghenejobo emphasized the strong belief in UMG as an ideal partner for Mavin's growth.

 Sir Lucian Grainge, Chairman & CEO of Universal Music Group, praised Mavin's artists for their role in popularizing Afrobeats globally and welcomed them into the UMG family.