Believe
Established: 2005
Country: France
Region: Ile-de-France
Investors: Ventech
With backing from Ventech, as its first VC investor, Believe is one of the world’s leading digital music companies. Believe’s mission is to develop independent artists and labels in the digital world by providing them the solutions they need to grow their audience at each stage of their career and development. Believe’s passionate team of digital music experts around the world leverages the Group’s global technology platform to advise artists and labels, distribute and promote their music. Its 1,651 employees in more than 50 countries aim to support independent artists and labels with a unique digital expertise, respect, fairness and transparency.
Ventech, an early-stage investor in Believe and a member of the Board throughout its investment period, has achieved a remarkable exit with a multiple of 36x for its fund III, the initiator of the operation - resulting in a total return of €175 million for the 12% stake held by its funds.
We are grateful to our investors who understood what’s at stake and supported our strategy, particularly the raising of a dedicated fund to prepare this exit, Ventech Opportunity I, which was one of the first GP-Led approaches in Europe which allowed Ventech to remain involved in Believe's governance until the exit.
We are pleased to see that Believe is now in the capable hands of TCV, one of our longstanding partners, and EQT, with whom we share the values cherished by Believe: Respect, Expertise, Fairness and Transparency. Denis Ladegaillerie and his passionate teams are now ready to embark on an even more ambitious new chapter of growth and continue to rock the world of music.
$690.8mn
total funding raised
36x
Multiple initiator fund return for Ventech
+1.3mn
artists served in 50+ geographies
Funding history
2005: Believe founded by Denis Ladegaillerie, Arnaud Chiaramonti, and Nicolas Laclias with the goal of supporting independent artists and labels in digital distribution.
2010s Growth Investment: Secured a $60m growth capital investment from Ventech, Technology Crossover Ventures (TCV), and XAnge to fuel international expansion.
June 2021 IPO: Believe went public on the Euronext Paris stock exchange, raising €300m during its initial public offering (IPO).
Post-IPO: Continued funding through public markets to support further global growth and expansion into new markets.
2023: Exceeded the milestone of €1bn in digital music sales (DMS), underscoring the effectiveness of its business model and continued investment strategy.
2024: Tender-offer of €1.5bn by the consortium of TCV, EQT and Believe. Ventech as its first VC investor has made its complete exit with 36x multiples on the initial fund.
Find out more
Investors
