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B Side, Music

Universal Music Group Acquires Majority Stake in Mavin Global

UMG has assured that Mavin will continue to be independent in its strategic direction and talent cultivation.

  • Melony Akpoghene
  • 26th February 2024
Don Jazzy

Universal Music Group (UMG), a global music giant, has announced the acquisition of a majority stake in Mavin Global, an Afrobeats label based in Lagos, Nigeria.


Founded in 2012 by music producer and industry veteran Michael Collins Ajereh, better known as Don Jazzy, Mavin has established itself as a leading force in the Afrobeats scene. The label has been instrumental in launching the careers of numerous Afrobeats stars, including global sensation Rema, whose hit song “Calm Down” peaked at no.3 on the Billboard Hot 100 chart and the Grammy-nominated Ayra Starr.


Before this acquisition, Mavin secured a substantial investment in 2019 from Kupanda Holdings, a collaboration between pan-African investment firm Kupanda Capital and TPG Growth. TPG has now divested completely from the venture, while Kupanda Capital will maintain a minority stake and advisory role.


Universal Music Group said that their investment will help Mavin’s Nigerian operations by tapping into UMG’s global network. Mavin, currently distributed worldwide (excluding Africa) through Virgin Music Group, has strong ties with UMG, including deals with U.S. labels like Republic and Interscope.


According to UMG, this partnership will boost Mavin’s growth globally, expand its artist roster, and develop it into a pan-African entertainment hub. They aim to achieve this through Mavin’s Artist Academy and executive leadership program, aiming to nurture new talent and industry leaders in Africa.


UMG has assured that Mavin will continue to be independent in its strategic direction and talent cultivation. This means Don Jazzy, the founder and CEO, alongside COO Tega Oghenejobo, will continue to steer the company, ensuring continuity and safeguarding the vision that has propelled Mavin’s success


This development comes amidst a surge in Afrobeats’ popularity worldwide. The genre has topped international charts, garnered critical acclaim, and attracted collaborations with prominent artists from other genres. With UMG’s backing, Mavin is poised to play an even bigger role in shaping the future of Afrobeats on the global stage.

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