Black Thought is one of Hip Hop’s most gifted and respected lyricists, but he’s now taking his skills into new territory. On Monday (July 18), The Roots member announced he’s a general partner at Impellent Ventures, a groundbreaking venture fund centered on equity.
The Roots rapper joins a team which hopes to recruit a number of other visionaries to help the new businesses grow under their joint guidance. Black Thought isn’t only helping Black entrepreneurs with this move, he’s also elevating his portfolio in the process.
“I’ve been keeping an eye on the industry and looking for new ways to invest and diversify my portfolio,” the rapper said in a statement. “I also get to see a lot of investment opportunities before anyone else does because of what my brand means to founders.”
Impellent Ventures is ran by David Brown and Philip Beauregard. Their main goal for the company is to uplift “startups through an emphasis on mentorship courtesy of proven investors and successful business mavens from companies such as Paychex, Android, LinkedIn, DraftKings, Google, and more.”
Impellent Ventures also provides Black entrepreneurs and those from communities needing assistance access to connections and capital from Tier 1 hubs. The company hopes Black Thought’s involvement in its new initiative will attract other artists to join the team.