In this edition, we cover some big movement in publicly traded music royalty funds and smaller updates across Arrived Homes, ANote Music, Percent, and more.
Music Royalties
The end of September also saw a few other pieces of music royalty related news.
Hipgnosis is a giant publicly traded investment fund that claims to have $3B in music royalty assets. While they previously made headlines for massive music catalog purchases, they’ve announced a plan to reverse course a bit.
Under the plan, the company would sell 29 catalogs for about $440M. The proceeds would be used to pay down debt and repurchase shares in an effort to boost the stock price and improve investor satisfaction.
This follows on the heels of Concord’s agreement to purchase Round Hill Music Royalty Fund, another publicly traded music royalty fund, for ~$470M.
It’s unclear what ramifications, if any, this will have on music royalty assets. The scale of what these funds were purchasing is well outside of what retail investors have access to.
In other music royalty news, the International Business Times cites $5B as the amount of money involved in music royalty transactions in 2021. The article indicates that 2023 is expected to surpass this total.
Arrived Homes
After debuting their first in-house managed vacation rental earlier this month, Arrived has moved more properties to in-house management. To our knowledge this includes:
- The Smokey
- The Pointbreak
- The Myrtle
- The Loop
- The Pinkshell
- The Sandbar
- The Seafoam
- The Tiara
Vint
Vint introduced a new wallet feature on their platform. This will allow users to have funds on Vint that are available for investment. The company may also require money to be present in your wallet to participate in future investments. Vint hopes this will reduce the amount of failed transactions on the platform.
ANote Music
ANote Music has launched all their summer updates to their investment platform. The four updates include:
- Easier to read charts for price performance and royalty distributions
- Updated marketplace designs to make it easier for investors to quickly see important information
- Added support for two factor authentication
- Introduced a listing history section so investors can see if there have been additional shares added by the rights holders after the primary market offering.
Ark7
After a long period without any new offerings, Ark7 debuted a mid-term rental in Chicago. To our knowledge it’s the first mid-term rental that’s been available on a fractional investment platform. The offering was relatively small at $260K and boasted a projected yield of 7.3%. It quickly sold out.
Fundrise
Fundrise has made another addition to their Innovation Fund. They announced a $6M investment into graphic design platform Canva. Canva is perhaps the most well-known company that Fundrise has invested in to date. A staple for many online creators and influencers, Canva has a large user base and a whopping $40B valuation.
Percent
Percent recently announced that they had secured an institutional partner to provide a $75M credit warehouse. This should allow them to continue to scale up their investment offerings even faster.
Fundhomes
Fundhomes announced their latest offering on X. It’s a vacation rental fund with a target IRR of 18%, but a hefty $50K minimum investment.
Republic
Republic announced that their app is now available on Android. You can see it from the Google Play Store here.
Yieldstreet
Yieldstreet posted an update about the makeup of their Prism Fund. The top two categories make up almost 75% of the fund with the largest allocations being real estate at 55% and Private Credit at 18%.
