From DJ to VC
Emailed on May 15th 2020 in The Friday Forward
Grammy Award-winning artists the Chainsmokers are expecting to invest $50 million in startups, with a newly formed firm, Mantis.
Musicians Alex Pall and Drew Taggart, who were already investing in startups with their own personal capital, are raising a venture fund.
Pall and Taggart said that they plan to use their network to help their portfolio companies and will also take a hands-on investment approach. They said their experience launching a band helps them relate to founders.
“Starting the Chainsmokers isn’t unlike building your own business,” Pall said. The two also have their own founder background, launching a concert-related startup, Yellowheart.
Not what you'd think: the duo isn't just investing in entertainment businesses. One of its first investments is in Loansnap, a mortgage lending startup. Mantis is co-leading the $10 million investment with True Ventures.
