Sports, Music and Entertainment capital solutions provider 23 Capital has invested in commercial rights business SRM Sport & Entertainment.
SRM was co-founded by two senior executives with rights ownership backgrounds, Judith Griggs (ex-Formula One), and Charles Garland (ex-Syco and 19 Entertainment).
Prior to founding SRM, Garland was Global CEO of Syco Entertainment.
During his tenure at Syco, he was responsible for building and managing the global television franchises X Factor and Got Talent, broadcast collectively in over 100 countries with 62 series in production each year and all of the commercial rights covering sponsorship, merchandising, live digital and interactivity.
23 Capital’s investment will see it support SRM’s ongoing growth, with SRM advising on select 23 Capital projects.
SRM has also announced the appointment of Mark Brittain as its inaugural CEO, who moves from his role as Chief Commercial Officer at Gfinity plc, a leading esports business and the only AIM listed company in the sector.
23 Capital lends across multiple asset classes including highly visible and predictable IP cash flows including broadcasting rights, music royalties, licensing agreements and sponsorship.
Since inception 23 Capital has deployed and advised on over $2.7bn of transactions. The company works with rights holders across Europe, USA, the Middle East and Australasia.
In late 2017, 23 Capital brought on two significant equity partners and transactional capital providers in Quantum Partners LP, a private investment fund managed by Soros Fund Management LLC (and its affiliates) and Corrum Capital alongside the founding shareholders.
“We are delighted to be working with SRM and look forward to building on the opportunities presented by growth in the content and licensing of these industries.”
Stephen Duval, 23 Capital
Stephen Duval co-founder of 23 Capital said: “The digital revolution continues to transform the sports, music and entertainment industries and SRM Sport & Entertainment’s experience of working with rights holders is not only invaluable but sits perfectly alongside 23 Capital’s specialist sector knowledge.
“We are delighted to be working with SRM and look forward to building on the opportunities presented by growth in the content and licensing of these industries.”
“23 Capital’s innovative finance solutions for the music industry, coupled to our expertise in unlocking new commercial revenue streams , has created a unique proposition for rights holders “
Charles Garland, SRM Sports and Management
Charles Garland co-founder of SRM Sports and Management added: “We are excited to have 23 Capital invested in SRM.
“23 Capital’s innovative finance solutions for the music industry, coupled to our expertise in unlocking new commercial revenue streams , has created a unique proposition for rights holders “
Jack MacDonald was recently appointed as 23 Capital’s Head of Music and Entertainment Origination for the UK.Music Business Worldwide
