TechCrunch Disrupt 2024: The Chainsmokers' New Fund Challenges Celebrity Norms
TechCrunch Disrupt 2024: A Shift in Celebrity Investments
At TechCrunch Disrupt 2024, Drew Taggart and Alex Pall, better known as the Chainsmokers, are setting a new standard in how celebrities participate in startup funding. Instead of following the usual path of angel investing, they have established Mantis Venture Capital, a dedicated fund focused on industries where their star power is less advantageous.
Investing in Diverse Sectors
The Chainsmokers are targeting sectors like security startups and analytics platforms, areas often overlooked by celebrities. Their fund aims to cultivate a more serious and thorough approach to investment, indicating a growing trend among entertainers to engage more substantively in the business world.
- Formal Funding Structure: Unlike typical investments, Mantis Venture Capital operates as a closed-end fund.
- Diverse Industry Focus: Investments are made in industries that do not capitalize on celebrity appeal.
This bold step may inspire others in the entertainment industry to shift their focus on impactful investing.
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