Independent publisher and record label Position Music has sold a minority stake to Vesper, a private investment firm whose founders were previously involved with another firm that invested in Kobalt Music.
Financial terms of the deal were not disclosed.
Vesper was founded in 2021 by David Caro, Shamit Grover and Raj Gopal. Caro and Grover were previously Managing Directors in the Private Capital Group of MSD Partners LP, and were involved in MSD’s investment in Kobalt Music Group.
Prior to founding Vesper, Caro served as head of Corporate Development at Kobalt, while Gopal was Director of Strategy & Business Development at Kobalt.
(Most long-term Kobalt investors exited the company following its majority sale to US-based Francisco Partners in 2022, a deal believed to be worth around USD $750 million.)
Position Music says its investment from Vesper will support the growth of its frontline business and catalog acquisitions.
Position has separately confirmed that it has secured a new credit facility from Pinnacle Bank, for an undisclosed limit.
Founded in 1999 by CEO Tyler Bacon, Position Music was initially built on synch activity with single-song publishing deals and representing third-party catalogs. It has since evolved into a full-service music publishing company and record label with multiple Platinum and Gold certifications.
“With Vesper’s investment and strategic experience paired with our new credit facility from Pinnacle Bank, we are well-positioned to substantially build on the foundation we have built for 24 years.”
Tyler Bacon, Position Music
“I am excited to partner with the Vesper team as we enter this next phase of growth,” said Bacon.
“With Vesper’s investment and strategic experience paired with our new credit facility from Pinnacle Bank, we are well-positioned to substantially build on the foundation we have built for 24 years. Additionally, I am excited to announce Emily Weber, Mark Chipello and Jake Versluis have been made partners in the company.
“The four of us have been working closely together for over a decade and I’m honored to more officially call them partners.”
Over the past year, some of Position Music’s songs have been certified RIAA Platinum for Em Beihold’s Numb Little Bug, grandson’s Blood // Water (double platinum), and Judah & the Lion’s Take It All Back, along with Gold certifications for Rotimi’s In My Bed and Sueco’s Paralyzed.
The indie label’s growing publishing roster also includes John “Feldy” Feldmann, Dru “Falconry” DeCaro, Harmony “H-Money” Samuels, Yonatan Watts, Fantastic Negrito, Kyle Reynolds, Krupa, No Love for the Middle Child, ¿Téo?, Tim Myers, and TeaMarrr.
Position Music recently announced joint ventures with Big Noise Music and Tommy “TB Hits” Brown’s Champagne Therapy Music Group. These songwriters and producers have cuts with the biggest artists including Arianna Grande, Avril Lavigne, Dua Lipa, Blink 182, Travis Barker, Sueco, iann dior, Pop Smoke, Machine Gun Kelly, grandson, Em Beihold, and Avicii.
The company’s label unit counts Kid Bloom, Welshly Arms, Layto, Ryan Oakes, Blackway, 2WEI and more among its frontline artists.
Based in Burbank, California, Position Music’s campus spans 15,000 square feet of office and studios. The company has hosted writing camps with artists from Atlantic Records, Warner Music Group, Capitol Records, RCA and SM Entertainment.
Position Music is also set to host more high-profile writing camps as its four additional world-class recording studios are currently being completed.
The company now has more than 40 full-time employees, more than double from 2019. It has a dedicated 11-person A&R team and a 12-person synch team.
“Few independent music companies today can match Position Music’s scale, track record, and depth of synch and creative services,” Caro said.
Gopal adds: “For over twenty years, Tyler and his team have shown a strong commitment to serving artists and songwriters and helping them reach the next level of their careers.”
“We’re excited to support the continued growth and evolution of Position Music.”
Following the investment, Bacon has named longtime Position Music colleagues Emily Weber (VP, Head of Synch), Mark Chipello (VP, Head of A&R) and Jake Versluis (VP, A&R and Gaming) as official partners in Position Music.
In the past three years, Position Music appointed music industry veteran Frank Handy to the position of Vice President, Head of Administration, and music industry executive J Scavo as GM, Recorded Music & VP of Marketing.
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