Daniel EK is investing beyond Spotify Technology SA, according to a report by Bloomberg.

  • His investment firm, Prima Materia, has invested in a green-steel startup and funds focused on artificial intelligence, life sciences and climate.
  • Ek’s company, which started operations in February 2021, also allocated $113.5 million to German security firm Helsing in November.
  • Spotify’s 38-year chief executive officer who has been embroiled in a public relations jumble involving podcast host Joe Rogan, is seeking to be at the forefront of the region’s early-stage tech industry and is exploring ways to make an important on the wider spectrum of innovation.
  • Ek came up with the term Prima Materia, which means “first matter,” with early Spotify investor and supporter Shakil Khan.

Ek further indicated his intention to place nearly 30% of his current net worth in European startups in September after investing in battery maker Northvolt AB. SPOT down -4.37%.