Stockholm, Sweden —  The entertainment and music investment firm Pophouse Entertainment closed its debut fund, Pophouse Fund I (the “Fund”), having raised more than €1 billion, reaching its hard cap and becoming one of the largest first-time private equity funds to be raised in Europe in the last decade.

In addition, over €200 million has been raised in secured capital through dedicated co-investment vehicles, providing investors the opportunity to invest alongside the Fund and participate in select transactions.

The Fund is already approximately 30% deployed, with landmark artist partnerships including the legendary American rock band KISS, American Pop icon Cyndi Lauper, and groundbreaking Swedish EDM artists Avicii and Swedish House Mafia. The Fund will acquire music catalogues and IP, pursuing exciting new partnerships in Pophouse’s pipeline, which include some of the world’s most recognisable and influential names in the global music industry.

Pophouse, founded by ABBA’s Björn Ulvaeus and EQT founder Conni Jonsson, is led by CEO Per Sundin and chaired by Lennart Blecher, EQT’s Head of Real Assets. Per, a former Managing Director of Universal Music Sweden and President of Universal Music Nordic Region, was the first label executive to partner with Spotify, driving the industry shift to a streaming revenue model, and signed Avicii when he was still an unknown artist. Lennart’s experience and strategic insight will be invaluable as Pophouse enters a new phase marked by this successful fundraise.

The firm employs a unique value add artist-centric approach to investing which captures the three distinct but essential rights in music investment: publishing rights, recording rights, and NIL (name, image, and likeness) rights. By focusing on these areas, Pophouse consolidates its ownership and control of iconic music rights to amplify legacies via a wide range of formats, creating value for its artists and investors.

In an industry enjoying impressive growth but facing unprecedented disruption from streaming and technology, Pophouse’s private equity model of acquiring and enhancing music IP offers attractive, uncorrelated returns to investors, while unlocking new audiences and revenue streams for the artists with which it partners.

Although this is Pophouse’s inaugural fund, the firm has defied the challenging environment for private capital raises and attracted a diverse and prestigious global investor base. This includes leading pension funds, endowments, high-net-worth individuals, family offices, and sovereign wealth funds, all drawn to Pophouse’s unique, value add artist-focused investment strategy. The firm’s differentiation is further bolstered by the exceptional vision and ingenuity of Pophouse’s investment and creative teams.

Conni Jonsson, Co-Founder of Pophouse, said: “Facing unprecedented disruption caused by streaming and technology, music intellectual property presents a differentiated, lifetime opportunity for investors. We are reshaping the entertainment industry by applying an active, value-add approach that unlocks future generations for fandom.”

Johan Lagerlöf, Managing Partner at Pophouse, said: “By investing across publishing, recording, and brand rights, Pophouse has created a uniquely attractive prospect not only for investors but also for artists, empowering them to explore and amplify their legacy to new generations of fans. We would like to thank our investors for the trust they have placed in our world-class investment and creative teams, and we look forward to the exciting journey ahead as we continue to partner with more of the world’s preeminent artists.”

Natalia Fontecha, Partner and Head of Capital Raising & Investor Relations, added: “Raising over €1.2bn for our debut fundraising is an extraordinary milestone that firmly establishes Pophouse as a global leader in music investment. I couldn’t be prouder of our team’s dedication and diligence, and I extend our heartfelt gratitude to our investors for their trust and partnership. As we look ahead, we are committed to driving innovation and breaking creative and technological boundaries, redefining the entertainment landscape in this transformative era for music while delivering attractive uncorrelated returns for our investors.”