International investor 3i, focused on private equity, infrastructure and debt management, has acquired a minority stake of newly issued shares in US jukebox manufacturer TouchTunes for $40m.
Current majority shareholder VantagePoint Capital Partners will invest an additional $5m. The investment will support TouchTunes’ growth strategy and help bolster its product and service offering.
3i joins VantagePoint Capital Partners and the TouchTunes management team led by CEO Charles Goldstuck to help fuel the company’s growth strategy.
While remaining focused on expanding its existing base of digital jukeboxes across the US and launching new products and services to broaden its in-venue entertainment capabilities, 3i’s investment and experience will enable the company to also expand into Asia and Europe.
