GoldState Unveils ‘Significant’ Bridgepoint Investment Partnership

West Palm Beach, Florida, where GoldState Music is based. Photo Credit: Clay LeConey

GoldState Music and Bridgepoint have finalized a funding partnership that will pursue investments in “profitable” businesses operating “across the music value chain.”

Four-year-old GoldState reached out with word of its latest tie-up today, less than one year after unveiling a $500 million strategic-capital raise from Northleaf and Ares. On the other end of the newer announcement, it was only this past June that Bridgepoint revealed its $150 million investment in Rezonate Music Rights.

Evidently, Bridgepoint isn’t through betting on the music market – though the just-minted fund’s focus is telling. While GoldState has dropped hundreds of millions of dollars on song rights to date, it mentioned music catalogs and IP a grand total of zero times in today’s release.

Instead, as initially highlighted, it and Bridgepoint intend to home in “on building and scaling high-quality music-oriented businesses globally.”

In keeping with the open-ended “music-oriented” descriptor, their target areas will include “rights management platforms, digital distribution, music technology and related infrastructure supporting the evolving global music industry.”

That doesn’t really narrow things down, but GoldState also emphasized plans to seek “growing, profitable companies with healthy organic growth” and “well-established market positions.” Meanwhile, the relevant entities further took the opportunity to underscore indie artists’ and labels’ “increasing share of global streaming revenues.”

Regarding the “significant” war chest’s size, GoldState and Bridgepoint opted against disclosing hard numbers.

Similarly, in an SEC filing confirming their “pooled investment fund,” they didn’t shed light on the involved capital. But based on the above-noted targets and an enthusiastic statement from Goldstuck, it appears the investors are positioned to drop a material sum on acquisitions.

“The continued expansion of the music ecosystem, coupled with the vibrancy we see in all facets of the industry, makes this one of the most exciting times in recent music investing,” said Goldstuck, GoldState’s founder and managing partner.

“Partnering with Bridgepoint is a natural expansion of our investment activities, and I could not be happier partnering with Rohit [Dhote] and his team,” he proceeded.

And in remarks of his own, Dhote, Bridgepoint’s co-head of credit opportunities, pointed to the industry’s “robust structural growth.”

“The music space continues to exhibit robust structural growth, supported by streaming expansion and the increasing global independence of artists,” communicated Dhote. “Led by Charles, GoldState has an exceptional track record of capitalising on these dynamics and is perfectly complemented by Bridgepoint’s growing expertise in providing creative capital solutions across the music ecosystem.”