XOXO Entertainment/Toban Capital Korea/Green Harbor Co.

Record label and management group XOXO Entertainment secured a multi-million-dollar funding deal with Toban Capital Korea, in association with the Korean private equity fund Green Harbor Co.

Under the agreement, Toban and Green Harbor will support the signing and development of multiple artists at XOXO’s label and management divisions. Last month, XOXO signed Grammy-winning R&B group Blackstreet.

“We are incredibly excited to partner with TOBAN CAPITAL KOREA & GREEN HARBOR as we move to sign multiple iconic artists to XOXO Entertainment,” said Adam H. Hurstfield, CEO of XOXO Entertainment, in a statement. “Our relationship spans a lifetime, and working together in an elevated capacity feels both natural and deeply meaningful. Toban Capital & Green Harbor share our core values and our global vision, and we are truly energized by what we will build together as our company continues its upward trajectory.”

“Partnering with XOXO Entertainment represents a significant and purposeful step for Toban Capital Korea,” added Stephen B. Toban, CEO of Toban Capital. “I have known Adam H. Hurstfield for a lifetime, and I have always respected his integrity, his vision, and his relentless commitment to excellence. We are proud to align with XOXO as we work together to sign and support iconic artists, and we look forward to the global impact this collaboration will create.” — Chris Eggertsen

SOURCE: BILLBOARD.COM