Medium Rare Valued at $50 Million Following Minority Investment by Palm Tree Crew

Palm Tree Crew (PTC), an entertainment, hospitality, and investment holding company, recently completed a strategic investment in Medium Rare, setting the company's valuation at $50 million. Medium Rare, known for creating live entertainment properties in collaboration with iconic athletes, celebrities, and artists, has produced some of America's most viral festivals. This includes Shaq's Fun House, Kelce Jam, and Flavortown Tailgate, among others.

The partnership between Medium Rare and Palm Tree Crew is expected to bring significant synergy, leveraging PTC's extensive experience in producing events across music, sports, and culture. Co-founders of Medium Rare believe this collaboration with Kygo and Myles Shear's Palm Tree Crew will elevate their live events division to new heights, fueled by the strategic investment.

Utilizing this investment, Medium Rare plans to expand and diversify its offerings. This marks the first external investment for the company, which retains majority ownership and continues to grow with this new partnership. Medium Rare aims to develop new live event properties and festivals in collaboration with PTC, which operates the Palm Tree Music Festival and produces events at moments like Miami Art Basel and the Super Bowl.