LONDON (CelebrityAccess) – Merck Mercuriadis’ Hipgnosis Songs has raised another £51.1 million ($62.3m USD) from investors, taking its total to almost £400m ($488m USD) since its initial listing on the London Stock Exchange in July of 2018.
The funds were raised principally from existing shareholders.
Mercuriadis, founder of The Family (Music) Limited and Hipgnosis Songs Fund Limited said: “We are delighted to continue giving our shareholders exposure to music royalties via new acquisitions of some of the most iconic songs of all time. I’m very grateful for the constant enthusiasm and support that the finest institutional investors in the world have given us to establish songs as an asset class. This is not only great for the investors but the songwriting and artistic community as well.”
Since its founding in 2017, Hipgnosis has acquired more than a dozen music catalogs valued at more than $150m USD. Those catalogs include: The-Dream, Poo Bear, TMS, Tricky Stewart, Giorgio Tuinfort, Bernard Edwards, Itaal Shur, Rico Love, Sean Garrett, Johnta Austin, Ari Levine, Sam Hollander, Benny Blanco and most recently The Chainsmokers.