ABBA Star Bjorn Ulvaeus Raised €1 Billion ($1.1 Billion) For Its First Music Fund! @ Top40-Charts.com

New York, NY (Top40 Charts) Sweden-based music investment firm Pophouse Entertainment, co-founded by ABBA’s Björn Ulvaeus, has secured over €1.2 billion ($1.3 billion) for its first-ever fund.

On Monday (March 31), the Stockholm-based company announced that Pophouse Fund I had raised more than €1 billion ($1.1 billion), reaching its funding limit. The firm claims this makes it one of the largest debut private equity funds raised in Europe in the past decade.

In addition, Pophouse obtained an extra €200 million ($216 million) through co-investment vehicles, allowing investors to contribute alongside the fund in selected deals.

The fund’s primary focus will be acquiring music catalogs and intellectual property (IP). So far, about 30% of the capital has already been invested in partnerships with artists, including rock band KISS, pop icon Cyndi Lauper, and Swedish electronic acts Avicii and Swedish House Mafia.

Pophouse aims to expand its collaborations with some of the biggest and most influential figures in the global music scene.

The company was founded by Björn Ulvaeus and EQT’s Conni Jonsson and is led by CEO Per Sundin with Lennart Blecher, Head of Real Assets at EQT, serving as Chairman.

Sundin, formerly Managing Director of Universal Music Sweden and President of Universal Music Nordic Region, is recognized as the first label executive to collaborate with Spotify and played a key role in signing Avicii before he became famous.

Pophouse also highlighted that Blecher’s expertise and strategic vision will be essential as the firm moves into a new phase following this major fundraising success.

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}