The Chainsmokers secure $35 million for debut venture capital fund

The Chainsmokers boys, Alexander Pall and Andrew Taggart, are furthering their business endeavors outside the realm of music. The pop-electronic icons have secured funding from the likes of Ron Conway and Mark Cuban, as well as billionaire James Coulter, for the launch of a new venture capitalist firm headquartered in Los Angeles by the name of Mantis. With $35 million secured in initial investments, Mantis is in a prime position for success and has already invested in LoanSnap, a lending startup based in San Francisco.

The Chainsmokers are no strangers to investing. Prior to the launch of Mantis, the two invested in multiple startups such as the temperature-regulating mug creator, Ember Technologies. Pall and Taggart are also bringing on two day-to-day partners to help run Mantis: Milan Koch, and former business connection and record label founder, Jeffrey Evans. The combined efforts of this powerhouse team and influence of The Chainsmokers’ brand are expected to make working with Mantis an extremely lucrative opportunity for potential clients.

H/T: Tech Crunch

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