![\"Entertainment](\"https:\/\/www.digitalmusicnews.com\/wp-content\/uploads\/2025\/09\/Kygo-Live-1024x546.jpg\" "\\"Entertainment\\"")
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Kygo performing live during his most recent world tour. Photo Credit: Johannes Lovund<\/p>\n<\/div>\n
Entertainment Kygo- and Myles Shear-founded Palm Tree Crew has announced a $20 million Series B, a $215 million valuation, and plans for additional expansions yet. <\/strong><\/h2>\nFive-year-old Palm Tree Crew (PTC) formally disclosed the raise and the buildout objectives today. Currently billed as a \u201cglobal entertainment, hospitality, and investment holding company,\u201d the business has made headlines for its startup stakes on multiple occasions.<\/p>\n
Just in passing, that includes but isn\u2019t limited to interests in Afterparty<\/a>, Sound.xyz<\/a>, and most recently social music app Hook<\/a>.<\/p>\nHowever, Palm Tree Crew brought a namesake beach club to the MGM Grand (thereby adding Vegas to a properties list also featuring Miami, Orlando, and Kansas City) and took a piece of \u201clavish new hospitality concept\u201d Mary Lou\u2019s earlier in 2025.<\/p>\n
All told, the self-described \u201cyear-round cultural platform\u201d now \u201chosts nearly 10 flagship festivals annually across the globe,\u201d according to the announcement.<\/p>\n
Looking to capitalize on the momentum, PTC itself has scored funding this time around, with WME Group having led the Series B.\u00a0 <\/strong><\/h4>\n\u201cAs music, hospitality, lifestyle, and live experiences converge,\u201d weighed in WME president and COO Mark Shapiro, \u201cPalm Tree Crew has quickly established itself as a cultural force at the center of it all. Our investment reflects both our confidence in Palm Tree Crew\u2019s vision and the natural alignment between our companies in creating world-class experiences that captivate audiences around the globe.\u201d<\/p>\n
Besides WME, the round drew support \u201cfrom a combination of existing and new investors,\u201d per Palm Tree Crew, which is said to have stakes in Morgan Wallen co-founded Ryl Tea, Cove Soda, and SipMARGS<\/a>\u00a0as well.<\/p>\nAt least in theory, there\u2019s a clear-cut financial incentive to bring adult beverages and high-profile music happenings under the same corporate banner.<\/p>\n
Apparently, though, Palm Tree Crew is open to investments that don\u2019t necessarily fit into the live-music picture. In June, it participated<\/a> in a $12 million round for Sauz, which is said to be ushering in a \u201cnew generation of tomato sauce.\u201d<\/p>\nBack to PTC\u2019s raise, CEO Michael Diaz in remarks of his own doubled down on the funding\u2019s anticipated ability to \u201caccelerate growth.\u201d<\/strong><\/h4>\n\u201cThis past year proved the power of Palm Tree Crew as both a global festival platform and a growing hospitality company, from expanding to new markets to forging cultural partnerships with world-class brands,\u201d weighed in Diaz, who first joined Palm Tree Crew in 2022.<\/p>\n
\u201cOur new funding and partnership with WME Group will accelerate growth across live events and hospitality while enabling diversification into synergistic verticals,\u201d the former LionTree managing director proceeded. \u201cThis new round of funding positions us to scale that momentum and deliver unforgettable experiences for fans around the world.\u201d<\/p>\n<\/section><\/div>\n
However, Palm Tree Crew brought a namesake beach club to the MGM Grand (thereby adding Vegas to a properties list also featuring Miami, Orlando, and Kansas City) and took a piece of \u201clavish new hospitality concept\u201d Mary Lou\u2019s earlier in 2025.<\/p>\n
All told, the self-described \u201cyear-round cultural platform\u201d now \u201chosts nearly 10 flagship festivals annually across the globe,\u201d according to the announcement.<\/p>\n
Looking to capitalize on the momentum, PTC itself has scored funding this time around, with WME Group having led the Series B.\u00a0 <\/strong><\/h4>\n\u201cAs music, hospitality, lifestyle, and live experiences converge,\u201d weighed in WME president and COO Mark Shapiro, \u201cPalm Tree Crew has quickly established itself as a cultural force at the center of it all. Our investment reflects both our confidence in Palm Tree Crew\u2019s vision and the natural alignment between our companies in creating world-class experiences that captivate audiences around the globe.\u201d<\/p>\n
Besides WME, the round drew support \u201cfrom a combination of existing and new investors,\u201d per Palm Tree Crew, which is said to have stakes in Morgan Wallen co-founded Ryl Tea, Cove Soda, and SipMARGS<\/a>\u00a0as well.<\/p>\nAt least in theory, there\u2019s a clear-cut financial incentive to bring adult beverages and high-profile music happenings under the same corporate banner.<\/p>\n
Apparently, though, Palm Tree Crew is open to investments that don\u2019t necessarily fit into the live-music picture. In June, it participated<\/a> in a $12 million round for Sauz, which is said to be ushering in a \u201cnew generation of tomato sauce.\u201d<\/p>\nBack to PTC\u2019s raise, CEO Michael Diaz in remarks of his own doubled down on the funding\u2019s anticipated ability to \u201caccelerate growth.\u201d<\/strong><\/h4>\n\u201cThis past year proved the power of Palm Tree Crew as both a global festival platform and a growing hospitality company, from expanding to new markets to forging cultural partnerships with world-class brands,\u201d weighed in Diaz, who first joined Palm Tree Crew in 2022.<\/p>\n
\u201cOur new funding and partnership with WME Group will accelerate growth across live events and hospitality while enabling diversification into synergistic verticals,\u201d the former LionTree managing director proceeded. \u201cThis new round of funding positions us to scale that momentum and deliver unforgettable experiences for fans around the world.\u201d<\/p>\n<\/section><\/div>\n
At least in theory, there\u2019s a clear-cut financial incentive to bring adult beverages and high-profile music happenings under the same corporate banner.<\/p>\n
Apparently, though, Palm Tree Crew is open to investments that don\u2019t necessarily fit into the live-music picture. In June, it participated<\/a> in a $12 million round for Sauz, which is said to be ushering in a \u201cnew generation of tomato sauce.\u201d<\/p>\n \u201cThis past year proved the power of Palm Tree Crew as both a global festival platform and a growing hospitality company, from expanding to new markets to forging cultural partnerships with world-class brands,\u201d weighed in Diaz, who first joined Palm Tree Crew in 2022.<\/p>\n \u201cOur new funding and partnership with WME Group will accelerate growth across live events and hospitality while enabling diversification into synergistic verticals,\u201d the former LionTree managing director proceeded. \u201cThis new round of funding positions us to scale that momentum and deliver unforgettable experiences for fans around the world.\u201d<\/p>\n<\/section><\/div>\nBack to PTC\u2019s raise, CEO Michael Diaz in remarks of his own doubled down on the funding\u2019s anticipated ability to \u201caccelerate growth.\u201d<\/strong><\/h4>\n