According to a news release from Raised In Space Enterprises, RISE was founded by Ithaca Holdings, industry leader and former President of BMG, Zach Katz, and Ripple’s Xpring, an initiative focused on helping innovative blockchain projects.
The news release continues to state that RISE is the first of its kind investment group guiding extraordinary founders in creating innovative solutions for the music industry, from inception to market adoption. In addition to its business, its organizational mission is to create a community of experienced music and tech leaders focused on raising the value of music. With the traditional music industry in need of innovation across the entire value chain (creation, registration, distribution, fan-engagement, touring/ticketing, monetization), Raised In Space will forge proactive collaboration between music and technology with investments ranging from $500,000 to $5 million. Raised In Space will leverage its partnership with Ripple’s Xpring to integrate blockchain and the digital asset XRP where it can most powerfully benefit and impact the music industry.