Palm Tree Crew has closed a $20 million Series B financing round led by WME Group, valuing the company at $215 million. The investment establishes a strategic partnership that will leverage WME’s sports, entertainment, and licensing networks to accelerate Palm Tree Crew’s growth across live events, hospitality venues, and lifestyle offerings.
Since its founding by Kygo and Myles Shear, Palm Tree Crew has grown into a diversified entertainment and investment holding company. In 2025, the team opened four new hospitality destinations—Palm Tree Beach Club in Las Vegas, Palm Tree Club & Hotel in Miami, Palm Tree Club Kansas City, and Palm Tree Club Orlando—bringing immersive music-and-lifestyle experiences to key U.S. markets.
The company’s festival footprint has also expanded, adding Montecito and Napa as U.S. stops and debuting in Saint-Tropez and Sardinia for European audiences. Palm Tree Music Festivals have featured global headliners such as A$AP Rocky, Swedish House Mafia, John Mayer, The Chainsmokers, and founder Kygo, while brand partnerships with Amazon, DraftKings, Tequila Don Julio, and Revolve have extended the platform’s reach beyond music into fashion, beverages, and digital activations.
Beyond live events and hospitality, Palm Tree Holdings makes early-stage investments in consumer and technology startups, providing portfolio companies with access to its marketing platform, talent network, and business development resources. Recent investments include Ryl Tea, Cove Sodas, and SipMARGS, each supported by Palm Tree Crew’s global community and ambassador program.
With the new funding and WME Group partnership in place, Palm Tree Crew plans to scale its hospitality portfolio, deepen festival offerings, launch new lifestyle products, and explore licensing and media ventures—continuing its mission to blend music, culture, and hospitality into unforgettable global experiences.
KEY QUOTES:
“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. 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.”
Mark Shapiro, President & Chief Operating Officer of WME Group
“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. 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.”
Myles Shear, Co-Founder of Palm Tree Crew
“This 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. Our new funding and partnership with WME Group will accelerate growth across live events and hospitality while enabling diversification into synergistic verticals. This new round of funding positions us to scale that momentum and deliver unforgettable experiences for fans around the world.”
Michael Diaz, CEO of Palm Tree Crew
