Palm Tree Crew Raises 32M Venture Fund

Source: VC Wire,
Photo: KYGO on Stage

Palm Tree Crew, a Miami, FL-based entertainment, hospitality, and investment holding company, recently raised a $32M venture fund.

Palm Tree Capital focuses on providing capital to early-stage disruptive brands across the consumer and technology space. The vehicle offers portfolio companies access to global marketing (via its events platform), strategic talent partners (via its network of celebrities, athletes, and influencers), and business development support to facilitate capital and commercial relationship-building. The portfolio spans a diverse set of consumer categories, including beauty (10Beauty, Playground); consumer technology (WhatNot, Betr, Telly); food and beverage (Long Drink, Poppi, Fly By Jing, immi, Rob’s Backstage Popcorn); sports lifestyle (Recess Pickleball); and more.

Founded by global music icon, Kyrre Gørvell-Dahll (“Kygo”), and his manager Myles Shear, and led by CEO Michael Diaz, Palm Tree Crew is a diversified holding company that operates a global live events and hospitality business, a lifestyle consumer brand, and a multi-stage investment platform.

Palm Tree Crew produces premium experiences all over the world, most notably through its flagship event Palm Tree Music Festival. PTC held eight festivals in 2023, in locations such as Aspen, Westhampton, and Dana Point in North America to Bali, Australia, and India internationally.

PTC also produces more bespoke and intimate high-end events such as Palm Tree Basel, Palm Tree Grand Prix, and Palm Tree New Year s Eve. At its festivals and events, PTC partners with leading brands such as Aviator Nation, Blade, Bumble, Celsius, Coach, Diageo, Matsuhisa, Route, Whispering Angel, and Wynn, among others.

In addition to live experiences, Palm Tree Crew is a cultural leader in the lifestyle space, producing merchandise collections both independently as well as in collaboration with leading consumer brands across the sports, culture, and fashion industries.

In 2024, PTC will bring Palm Tree Music Festival back to all domestic markets, as well as select new ones to be announced soon, and will continue its international expansion.

https://vcwire.tech/2024/01/17/palm-tree-crew-raises-32m-venture-fund