As a musician, arguably. As an entrepreneur and investor, indisputably.
His most recent bets carry all the hallmarks of a hip-hop star’s investing approach: many are consumer-facing brands, often in areas that are buzzworthy and growing fast: hot chicken chains, legalized pot, app-based online investing, esports, gaming, plant-based meat. These are the business trends that defined the past year, and Drake is betting on all of them.
Then there’s his minority stake in L.A.-based Dave’s Hot Chicken, a stake in a venture capital fund that invested in Wealthsimple, and an investment in Daring Foods, a plant-based chicken company also based in L.A. As with many of his investments, Drake’s decision to pour money into Bullrider was likely based as much on a personal connection as an analysis of the company’s financials.
His funding for the robo-investing success story founded by Michael Katchen was part of a $750-million round that included famous names like NBA centres Kelly Olynyk and Dwight Powell, as well as NHL star Patrick Marleau and actors Ryan Reynolds and Michael J. Fox. Venture capital or angel investing also tends to happen in flashier, more speculative areas of the market, such as esports or tech.
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