WME Invests in Kygo’s Palm Tree Crew at $215 Million Valuation

Entertainment agency WME Group is leading a $20 million funding round in Palm Tree Crew, the company co-founded by DJ and record producer Kygo, as its festival business looks to expand locations and invest in consumer products. The deal values the firm at $215 million.

Palm Tree Crew hosts music festivals in places such as Aspen, Colorado, California’s Napa Valley and the Hamptons in New York with headliners including Calvin Harris, Swedish House Mafia and the Chainsmokers. It made its European debut earlier this year in Saint-Tropez and Sardinia.