Arab Finance: Cairo-based early-stage venture capital (VC) firm A15 announced the acquisition of its portfolio company Viral Wave by PopArabia, the Middle East and North Africa partner of NASDAQ-listed Reservoir, as per a press release.
Viral Wave, a UAE-headquartered music digital distribution company, was spun out of ARPUPlus, A15’s venture-building arm. The company provides services across digital distribution, YouTube management, and monetization on major global streaming platforms.
It has administered a catalog generating more than 55 billion streams and works with a roster of regional artists, including Ramy Sabry, Ramy Gamal, Ahmed Saad, Tamer Ashour, Ruby, Saber Rebai, Didine, and Shehab.
Under the agreement, Viral Wave will operate as PopArabia’s distribution and label services division. Its Egypt-based team will be integrated into PopArabia’s regional operations, combining capabilities across distribution, digital monetization, and artist services across the Middle East and North Africa.
The transaction also extends the international footprint of Reservoir, a New York-based music company.
The exit brings A15’s total number of exits to nine. The firm’s exits span sectors including financial technology, media and advertising, enterprise services, and consumer applications.
