GAMMA. RAISES $100M IN NEW FUNDING

Ten days before recently signed client USHER headlines the Super Bowl LVIII halftime show at Las Vegas’ Allegiant Stadium, Larry Jackson’s gamma. has raised more than $100 million from investors led by the New York investment group Alpha Wave Global, Bloomberg reports (from behind a paywall).

The financing values gamma. at $400m, unidentified sources told the news service.

Jackson's roster likewise includes Snoop Dogg, Rick Ross and Sexyy Red. Jackson also worked on the soundtrack to the latest reimagining of The Color Purple. The mogul owns indie distribbery Vydia as well.

gamma.’s largest investor is Todd Boehly, whose investments include the L.A. Dodgers, Chelsea FC, film studio A24 and Bruce Springsteen’s song catalog. Apple, Jackson’s former employer, took a stake in the company, too.

According to Bloomberg, Jackson, who sought to diversify his investor base while adding capital to grow, contacted Middle East investors, who connected him with Rick Gerson, the co-founder and chairman of Alpha Wave, an investment firm with more than $20 billion under management. The company has invested in SpaceX and Aman Resorts.

“It’s a testament to Larry’s ability to develop relationships that he has now brought in very deep pools of capital in a part of the world that really wants to grow and develop culture,” Boehly said in an interview with Bloomberg.

Boehly’s funding was initially conditional, he said, but gamma. now has committed funding at its disposal.