Funding · Professional & Local Services
Triangle Group raises $15M in seed funding
By Startup Enthusiast ·
- Date
- Company
- Triangle Group
- What it does
- Live entertainment platform for Asia-Pacific
- Kind
- Funding
- Amount
- $15M
- Stage
- seed
- Based in
- Singapore
What they do
Triangle Group is an end-to-end live entertainment platform that manages touring and festivals in Asia-Pacific
What happened
The company raised $15M in combined equity seed ($10M, led by DSG Consumer Partners) and venture debt ($5M from Genesis Alternative Ventures)
Why it matters
This is the biggest institutional investment in Asia-Pacific's experience economy by a regional player, with the market expected to hit $75B by 2033
The details
- Triangle Group announced a $15M combined equity and venture debt raise.
- The equity seed of $10M was led by DSG Consumer Partners.
- The venture debt of $5M came from Genesis Alternative Ventures.
- Golden Gate Ventures, Oberoi Family Office, and angel investors participated in the equity seed.
- Roger Field joined Triangle as Executive Director and Operating Partner.
- Field was previously President of Live Nation Asia Pacific and CEO of Live Nation Australia & New Zealand.
- He had been an advisor and investor in Triangle for one year before this role.
The bigger picture
- The Asia-Pacific live entertainment market is forecast to reach $75B by 2033, growing at 6.3% each year.
- Nearly 60% of the world's Gen Z consumers live in Asia-Pacific.
- A structural shift is underway: K-pop and Latin music have global reach, recorded music income is becoming less viable, and live touring is now critical.
- This is the largest institutional wager on Asia-Pacific's experience economy by a regional operator.
About the business
- Triangle Group is an end-to-end live entertainment platform for the Asia-Pacific region.
- It handles live touring and festivals, taking on the financial risk of owning the tour or festival P&L (profit and loss statement).
- Triangle operates in 18 cities across 9 countries.
- It was formerly known as Creation Collective and is headquartered in Singapore.
- The company manages every step of live touring and festivals, from the first offer to the last encore.
What happens next
- Triangle plans to scale Asia-Pacific live touring and festivals infrastructure.
- It aims to target consumer-facing services like travel and hospitality packages.
The deal
- Type
- seed
Investors
- DSG Consumer Partners (lead) — Lead investor in the equity seed round; this is DSGCP's first investment in live entertainment. Managing Director & Head of Southeast Asia is Sameer Mehta.
- Genesis Alternative Ventures (venture debt provider) — Provided $5M in venture debt. Partner is Eddy Ng.
- Golden Gate Ventures (participated) — Participated in the equity seed round.
- Oberoi Family Office (participated) — Participated in the equity seed round.
- Angel investors (participated) — Participated in the equity seed round.
Founders
- Greg Hargrave, CEO & co-founder
- Zaran Vachha, MD, Culture & Creative & co-founder
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