The sale covers all five albums Perry released for Capitol Records from 2008’s One of the Boys to 2020’s Smile.

Multi-platinum hits include Firework, Teenage Dream, Hot ‘n’ Cold, California Gurls, and I Kissed A Girl.

This is the largest catalogue deal for a single artist this year.

In January, Justin Bieber sold his stake in his back catalogue to Hipgnosis Songs Capital for $200 million (£162 million).

Having acquired Perry’s stake in the master recordings and publishing rights, Litmus will collect any future royalties the music generates.

Spotify has streamed more than one billion of her songs, including Dark Horse and Roar. It has also been viewed over 3.8 billion times on YouTube.

In recent years, Perry has slowed her work rate, concentrating on her Las Vegas residency and raising a family with her partner, Orlando Bloom. Former Warner Music and Capitol Records president Dan McCarroll co-founded Litmus Music, a venture financed by the Carlyle Group for $500m (£404m).

The deal with Perry stems from McCaroll’s “longstanding working relationship” with Perry when both were at Capitol.

In the words of Litmus co-founder and CEO Hank Forsyth, “Katy’s songs are an essential part of the global cultural fabric. We are so happy to be working with such a trusted partner whose integrity shines throughout her career.”