EQT, Blackstone growth funds invest $450M in Epidemic Sound

Growth funds affiliated with EQT AB (publ) and Blackstone Group Inc. injected $450 million of combined capital into Epidemic Sound AB, giving the restriction-free music platform an approximately $1.4 billion valuation.

The investment was made by EQT Growth and funds managed by Blackstone Growth Advisors LLC.

EQT Mid Market Europe Fund is partially exiting the 40% stake it acquired in Epidemic Sound in 2017, but will remain invested in the business. EQT remains the biggest investor in Epidemic Sound.

Stockholm-based Epidemic Sound, with the aid of the new investors, plans to expand in existing and new markets globally and advance its customer acquisition and core-user investment initiatives.

SEB Corporate Finance and Goldman Sachs were financial advisers, and White & Case was legal adviser to the sellers. PwC was financial and tax adviser to EQT Growth, while DLA Piper was its legal adviser.