Wyclef Jean has secured backing for his Africa-focused music publishing and distribution company Carnival World Music Group.
The support comes from Sound Royalties, an entertainment industry finance firm founded by CEO Alex Heiche that provides royalty advances to artists, producers and songwriters without taking ownership of their copyrights. The firm has previously backed projects from artists including Lil Wayne and Pitbull.
“Over his career, Clef has demonstrated the ability to use the power of music to transform lives,” said Heiche in a statement. “I was excited to hear about his plans to fund songwriters and artists that typically don’t have the same options as those working domestically. This partnership is a terrific example of how our financing platform can have a profound impact on both artists and fans around the world, and on the music industry overall.”