September.10.2015
Orrick advised Australian investor Macquarie Capital on its direct venture investment in a Berlin based technology start-up. Macquarie Capital invested in the music streaming-service Idagio as lead investor as part of a seed-financing round.
Idagio was founded by Till Janczucowicz and Christoph Lange (co-founder of Simfy) in 2014. The content offered via the streaming-platform exclusively focuses on classical music. Idagio has just launched its music streaming-app available for iOS as prominently announced at the classical Salzburg Festival. Idagio uses a special format for classical music, which marks a distinction to other streaming platforms. Idagio has formed partnerships with several well-known classical musicians and artists, such as the Vienna Philharmonic Orchestra.
Macquarie Capital is part of the Macquarie Group which is a worldwide operating financial service provider and offers service in the areas investment, finance and advisory. Macquarie, founded in Sidney in 1969, is one of Australia’s leading venture capital investors and is currently active in 28 countries.
David Standen, Executive Director at Macquarie comments on the successful investment: “Merging classical music and technology is essential for classical music to endure through reaching and resonating with new audiences. We have invested in IDAGIO because we believe that this is a business that anticipates and meets a need that is currently unfulfilled.”
The Orrick transaction team included Dr Christian Schröder (Partner IP/IT, Dusseldorf), Dr Katharina von Rosenstiel (Senior Associate Employment, Berlin), and Associate Sophie Ratzke (Düsseldorf).