When the pandemic brought projects Cabello had been juggling to a grinding halt, she took on a new role: early-stage investor
t’s rare for Camila Cabello not to be multitasking. So when the coronavirus pandemic began, bringing the projects the three-time Grammy-nominated artist had been juggling to a grinding halt, she took on a new role: early-stage investor.
And so on February 1, Cabello announced her first major venture investment, participating in Olipop’s $30 million Series B alongside A-list investors including Mindy Kaling, Priyanka Chopra Jonas, the Jonas Brothers and Gwenyth Paltrow, not to mention PepsiCo’s former CEO, Indra Nooyi and noted venture capital investors Anjula Acharia and Rocana Venture Partners.
“Celebrities now understand the value they can create for brands through their endorsements that drive sales and want a piece of that upside through equity ownership,” says dealmaker Romitha Mally, former vice chairman of investment banking at UBS and founder of The Mally Collective. And it’s not a trend that seems to be slowing down anytime soon.
“There’s nothing more authentic than being able to say, ‘I like this brand or product so much that I put my own money into it,” says Michael Blank, head of consumer investments for Hollywood’s CAA, where he oversees Connect Ventures, an investment partnership between CAA and NEA. “They are in it for the long run.”
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Foreign Investment in U.S. Commercial Property Exceeds Pre-Pandemic LevelsForeign investment in U.S. commercial property surpassed pre-pandemic levels last year, as overseas investors piled back in after travel restrictions eased and the U.S. economy bounced back
Read more »
The Bengals' viral cart is heading to the Super BowlThe three-tiered metal cart became a viral celebrity last year when it was used as an improvised recording stand for outdoor interviews amid Covid distancing.
Read more »
In Venezuela, newspaper HQ handed to govt officialA Venezuelan court has officially handed over the headquarters of the newspaper El Nacional to Diosdado Cabello, widely seen as the government's number-two man.
Read more »
Shiba Inu Once Again Becomes Largest Holding on Whale Addresses, First Time Since January$SHIB becomes biggest holding among whales once again, becomes leader on the market
Read more »
TikTok hates Meena the elephant from 2016's 'Sing.' Here's why.Meena the fictional cartoon elephant from the 'Sing' movies has become the latest victim of cancel culture, thanks to TikTok users.
Read more »
Celebrity Stunt DoublesSome of these are creepily accurate
Read more »