Zach Katz, BMG‘s former president, is partnering with Scooter Braun’s Ithaca Holdings on a new venture called Raised In Space. Billed as a “a new investment group for entrepreneurs, start-ups [and] the innovators of tomorrow,” the company will work on identifying tech and music initiatives ripe for investment, with financial commitments ranging from $500,000 to $5 million.
The company will be based out of Braun’s offices in Santa Monica with Katz as CEO. Also joining Raised in Space Shara Senderoff, the co-founder of Intern Sushi who was named to Forbes 30 Under 30. The focus of the venture is to raise the value of music as well as innovated the music-tech offerings. In addition, Raised in Space, in partnership with Ripple’s Xpring, will integrate blockchain and the digital asset XRP. The goal, according to an announcement, is “to create a community of experienced music and tech leaders” and to innovate “across the entire music value chain (creation, registration, distribution, fan-engagement, touring/ticketing, monetization).”
“Writing the check is easy. Hands-on guidance, time, and strategy is the real investment,” said Katz in announcing the venture. “There has to be consistent collaboration and conversation – we get into the bones of these companies to help them see and reach their highest potential. We will unify the most forward-thinking leaders (the outliers, the out of this world thinkers who feel like they were raised in space) in both music and tech to foster community and ideas that will ultimately catapult the music industry into the future.”
Added Braun: “The relationship between music and tech has massive untapped potential. I’m excited to launch a company focused on bridging these two industries in a transformative and actionable manner that raises the value of music.”
Zach is a music attorney and the former manager of Sean Kingston and hitmaker J.R. Rotem, with whom he co-founded record label Beluga Heights. He joined BMG in 2012 as chief creative officer and was upped to president of music publishing for the U.S. soon after, eventually taking on responsibilities on the recorded music side. In Dec. 2018, Katz stepped down as part of a larger BMG overhaul.