Black Ventures (BV) is an emerging private equity firm that makes direct investments in music rights and invests in the next generation of music investors.
Meet the Team
Kevin Rivers, Founder & Managing Partner – Rivers is a serial entrepreneur with over 18 years of music and digital media business experience. In 2009, Rivers founded WaTunes, a music distributor and the world's first Facebook Music Store that revolutionized the music industry. In 2012, Rivers launched Venzo Digital, an award-winning iTunes music service that helped musicians earn over $2M in music sales, which Lester Ventures purchased in 2015. In 2019, Rivers purchased music labels Grapevine Music and Rocket Science Ventures to grow the media business Global Media Bank with over $300K in annual revenues.
Richard Freeth, Partner & General Counsel – Freeth is a New York attorney with over 20 years of legal and business experience. Also, in 2014, he was co-founder of Freethfields Financial Partners, a diversified international financial firm focused on opportunities in Brazil. Mr. Freeth will utilize his experience in corporate transactions, securities, and intellectual property law concerning corporate governance of BV Fund and the Company and evaluate potential assets to be purchased by BV Fund and compliance issues related to the continued viability of those assets.
Clem Moorer, Strategic Advisor – Moorer is a Vice President at Rigil Kent Capital. His primary focuses are identifying, assessing, and executing new debt investment opportunities and developing long-term relationships with a close network of consultants and associates. Previously, Clem facilitated private equity deal origination and technology M&A at London-based Quadra Global Capital Corp and spent time working in capital markets with an established commercial finance brokerage based in Western Canada. Most recently, Clem co-founded Pivot Partners, LLC ("Boston Edison Capital Advisors"), an independent capital advisory firm operating as a strategic financing consultant to mid-market private equity sponsors and a General Partner and Fund Manager of several alternative investment funds.
The BV Strategy
Income from music catalogs can vary over time. Investing in a specific artist's record can be risky. Diversifying these kinds of holdings reduces that risk. Further, we believe that very few other funds have considered this kind of diversification strategy for royalties. Also, it is common for content to lose momentum after creating a valuable, marketable asset and then selling the asset for less than its potential value. Sometimes, after initial success in building a brand and an audience, the efforts stall for various reasons. Without an organized strategy for moving forward, many rights owners miss valuable opportunities.
For a relatively modest entry cost, BV can allow emerging music investors to take control of available music rights that generate proven income. Also, maintenance charges to hold or maintain these assets are meager. Additionally, as the strategy is relatively uncomplicated to execute, the management team can be kept small, and technical or production issues are simple to outsource.
BV's strategy is unique in its ability to collect continued value from proven assets without the need for significant investment or overhead going forward. As a result, returns from our strategy are reasonably predictable.