TPG Growth has acquired a majority stake in Trace.tv, an afro-urban music and entertainment alongside Evolution Media and Satya Capital in a deal that will see MTG, an earlier investor in TRACE, and Trace founders sell their stakes in the company.
“By partnering with TPG Growth, a global investor known for its ability to grow and scale businesses, we are well-positioned to build on our success and accelerate our transformation into the leading global afro-urban digital entertainment group. We will leverage our unique assets and TPG Growth’s deep experience with groundbreaking entertainment and technology businesses to launch “Episode 2” of TRACE,” said Olivier Laouchez, co-founder, Chairman, and CEO of TRACE.
Founded in 2003, TRACE is multi-platform media and entertainment firm with an audience of 200m viewers and listeners across 160 countries. TRACE owns and operates 30 digital and mobile services, 21 pay TV channels, and seven FM radio stations. The platform hosts more than 400 concerts, web simulcasts with 360 degree immersive technology, talent search competitions and events across the globe each year.
Select initiatives include TRACE Play, a subscription-based streaming service offering live TV, radio, and on-demand programs via desktop, mobile and connected platforms such as Roku and Amazon Fire.
TRACE Mobile, a South African MVNO serving over 2 million consumers. TRACE Naija for Nigerian customers, TRACE Mziki, a top music channel in East Africa, TRACE Toca for Afro-Lusophone fans, TRACE Africa, a music channel for Francophone Western Africa and TRACE Urban, the second most watched music channel in France.
TPG Growth’s investments include Spotify, Airbnb, Vice Media, Creative Artists Agency, Cirque du Soleil, and Uber.
“The African music and entertainment industry is dynamic and has experienced huge growth in the last decade, driven by the booming youth population and rapid adoption of digital technology,” said Yemi Lalude, Managing Partner at TPG Africa. “As smartphone penetration on the African continent continues to rise, the way young people consume content is migrating to mobile and digital. We are very excited to help grow the TRACE brand not only in Africa but worldwide.”
In Africa, TPG Growth has invested into Gro Intelligence, a global agricultural data business, Frontier Car Group, which supports Nigeria’s second-car sales business Cars45.com and Ecoles Yassamine, a Moroccan private school network.