Back in May, the Chainsmokers planned on investing in a venture capital fund. Today, they hit $35 million in investments from bigtime investors like Mark Cuban, Keith Rabois, Jim Coulter, and Ron Conway. We may be looking at savvy venture investors in addition to one of the world’s most notable electronic dance duos. Say hello to Mantis.
The firm is in its early stages but already has enough in capital commitments for its debut fund. It is being managed by two general partners, Milan Koch, and Jeffrey Evans. Some expenditures that Mantis has funded already include Fiton, a fitness app, and LoanSnap, a mortgage-lending startup founded by Karl Jacob. LoanSnap processes loans more efficiently and takes the hassle out of refinancing. While the lineup may seem a little outside the duo’s territory, their mission is to fund a wide variety of startups that benefit younger audiences. Who wouldn’t want to be backed by a dynamic duo like them?
What’s even more is that Jimmy Buffett inspired Drew Taggart and Alex Pall to proceed with this venture. Taking a company that helps out others and turning it into a successful strategy resonates with them.
“When we started eight years ago, our fans were primarily all in college. Now they are dealing with paying back their college loans, and they’re probably applying to buy their first house, so a company like LoanSnap feels like one of those startups whose services our fans have grown into needing.” – Taggart
As a student in financial loan debt, I am all about this. Both have been thinking about how to make business more incredible and 2020 could not have been the more perfect time. They have good relationships with the founders of their little investments and stand by their product, which is important.
None of this would have happened if they hadn’t taken the risk to seek out unchartered opportunities. One day, their strategy can pave the way or inspire others to also change the landscape of tomorrow. So, what other boxes can we check off for the Chainsmokers?
They have a business firm, they perform among elitist profiles and continue to crank music out. Moreover, they run a production studio, have stakes in JaJa Tequila, and co-founded YellowHeart, a ticketing platform built for performers.
We’ll see what other adventures they continue to take, so stay tuned!