Market Chatter: Tencent Music Leads Series B Funding Round for The Black Label

MT Newswires Live17:25

Tencent Music Entertainment Group (TME) and Krafton led a series B funding round for The Black Label, raising approximately 120 billion South Korean won ($79.8 million), Bloomberg News reported Tuesday, citing a company statement.

The round valued the record label at 1 trillion won and attracted current investors including Saehan Ventures, according to the report.

Tencent didn't immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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