Palm Tree Crew, the Miami-based global entertainment, hospitality, and investment holding company co-founded by DJ and producer Kygo, has raised $20 million in a Series B funding round led by WME Group.

The latest round values Palm Tree Crew at $215 million and saw participation from both new and existing investors, the company confirmed. The funds arrive as Palm Tree Crew expands its festival portfolio and builds momentum in consumer product investments.

“As music, hospitality, lifestyle, and live experiences converge, Palm Tree Crew has quickly established itself as a cultural force at the center of it all,” said Mark Shapiro, president and COO of WME Group, in a statement. “Our investment reflects both our confidence in Palm Tree Crew’s vision and the natural alignment between our companies in creating world-class experiences that captivate audiences around the globe.”

Founded in January 2024, Palm Tree Crew has pursued rapid growth in hospitality, opening four venues within its first year: the Palm Tree Club & Hotel in North Bay Village and Palm Tree Clubs in Orlando, Las Vegas, and Kansas City.

The company has also grown its festival presence, adding new U.S. destinations in Montecito and Napa, and marking its European debut with events in Saint-Tropez and Sardinia. Its flagship festivals have featured leading artists such as Calvin Harris, A$AP Rocky, Swedish House Mafia, John Mayer, The Chainsmokers, and Kygo himself.

The Series B funding will support Palm Tree Crew’s next stage of growth, particularly in live events and hospitality, with new festivals under consideration in Japan, South Korea, Singapore, Macau, and Kygo’s native Norway, according to Bloomberg. Beyond events, the company plans to expand hiring and pursue further investments in consumer product start-ups, particularly in beverages. Past investments have included brands such as Ryl Co. tea, Cove Soda, and SipMargs.

“From day one, our goal has been to build more than a company – we set out to create a lifestyle brand that celebrates connection, culture, and the carefree spirit of the tropics,” said Palm Tree Crew co-founder Myles Shear. “With WME Group and our world-class investors behind us, Palm Tree Crew will continue to scale bigger, go bolder, and push into new territory across music, hospitality, and beyond.”