Palm Tree Crew, the worldwide leisure, hospitality, and funding holding firm based by celebrity DJ and producer Kygo and his longtime supervisor Myles Shear, has simply introduced a significant milestone. The corporate closed a $20 million Collection B funding spherical led by WME Group, inserting its valuation at $215 million and setting the stage for an bold subsequent chapter.
A Strategic Partnership with WME
The funding isn’t nearly capital. By aligning with WME Group, Palm Tree Crew positive aspects entry to an enormous sports activities, leisure, and licensing community. In response to WME Group President & COO Mark Shapiro, the partnership displays a shared imaginative and prescient: “Palm Tree Crew has shortly established itself as a cultural pressure on the middle of music, hospitality, way of life, and reside experiences.”
From Festivals to Hospitality
Since early 2024, Palm Tree Crew has quickly expanded past music festivals, positioning itself as a world way of life model. In lower than a 12 months, the corporate opened 4 new hospitality properties:
- Palm Tree Seaside Membership (Las Vegas)
- Palm Tree Membership & Lodge (Miami)
- Palm Tree Membership Kansas Metropolis
- Palm Tree Membership Orlando
On the competition entrance, Palm Tree Crew has scaled globally with new locations in Montecito, Napa, Saint-Tropez, and Sardinia. Its Saint-Tropez debut featured headliners A$AP Rocky and Swedish Home Mafia, drawing celebrities like Rita Ora, Kyle Kuzma, and Winnie Harlow.
A Cultural & Financial Drive
Palm Tree Crew’s impression goes past music. At its first Aspen competition, the corporate generated $88.3 million in native financial exercise, boosting lodge occupancy, restaurant income, and ticket resale demand. Right this moment, Palm Tree Crew hosts almost 10 flagship festivals yearly, with lineups that includes Calvin Harris, The Chainsmokers, John Mayer, and Kygo himself.
Its cultural footprint extends into trend and model partnerships. Palm Tree Crew’s merch line, noticed on stars like Travis Kelce and Morgan Wallen, has grow to be a celeb favourite, whereas collaborations with Amazon, DraftKings, Tequila Don Julio, and Revolve cement its year-round presence.
Wanting Forward
With this Collection B spherical, co-founder Myles Shear says the corporate is able to “scale greater, go bolder, and push into new territory throughout music, hospitality, and past.” CEO Michael Diaz added that the partnership with WME will gasoline diversification into new verticals whereas increasing Palm Tree Crew’s world occasion and hospitality platforms.
Alongside its leisure ventures, Palm Tree Holdings continues to again early-stage client and tech startups. Current investments embrace Ryl Tea, Cove Sodas, and SipMARGS, with social media star Alix Earle becoming a member of as each investor and ambassador.
Palm Tree Crew’s Collection B spherical alerts that what began as Kygo’s tropical-inspired way of life imaginative and prescient is now a world cultural powerhouse, and with WME on board, its subsequent period appears to be like even greater.
