3-2-1-Liftoff! Raised In Space Launches
• Raised In Space Enterprises is officially off the ground. Described as “the first-of-its-kind investment group guiding extraordinary founders in creating innovative solutions for the music industry, from inception to market adoption,” the Santa Monica-based Raised In Space was founded by Scooter Braun-led Ithaca Holdings, former BMG President Zach Katz and Ripple’s Xpring, an initiative focused on helping innovative blockchain projects. Rounding out this core team is Forbes 30-Under-30 tech and music entrepreneur, Shara Senderoff. This venture will identify, invest in and provide unparalleled hands-on guidance to revolutionary companies. Katz will serve as CEO and Partner of Raised In Space.
The company’s organizational mission is to create a community of experienced music and tech leaders focused on raising the value of music. Raised In Space will forge proactive collaboration between music and technology with investments ranging from $500,000 to $5 million while also leveraging its partnership with Ripple’s Xpring to integrate blockchain and the digital asset XRP where it can most powerfully benefit and impact the music industry. Braun remarked, “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.”
“Writing the check is easy. Hands-on guidance, time and strategy is the real investment,” says Katz (pictured), a veteran music attorney, manager and label founder who most recently served as President of BMG. “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.”
Ethan Beard, SVP of Ripple’s Xpring, commented, “We’re excited about blockchain’s potential to solve problems in the entertainment space — from new ways to monetize creative content to innovative fan engagement models that were not previously possible. Xpring is about empowering the best entrepreneurs to apply technologies like the XRP Ledger in new and novel ways. Raised In Space is an extension of that effort, and we couldn’t ask for better partners than Zach, Scooter and Shara. Forming the company is an important first step, now we’re excited to see how the entrepreneurs they back will build new solutions that can reshape the music industry.”
