Reality TV star Kim Kardashian founded a private equity fund, Skky Partners, which she co-founded with Jay Sammons, a former partner at the investment firm Carlyle Group.
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Reality TV star Kim Kardashian founded a private equity fund, Skky Partners, which she co-founded with Jay Sammons, a former partner at the investment firm Carlyle Group.
“Together, we hope to leverage our complementary expertise to build the next-generation Consumer & Media private equity firm,” Kardashian Written on Twitter.
Along with investing in consumer and media companies, the company will also target the hospitality, luxury, digital and e-commerce sectors, Skky Partners tweeted.
It speak it will pursue minority control and investment in these industries.
Kardashian and Sammons, who previously ran the global consumer, media and retail division of the Carlyle Group and left the company in July, will serve as co-founders and co-management partners, along with with Sammons running the day-to-day operations at the company. Sammons has previously worked with global brands such as Supreme, Beats by Dr.Dre, Vogue, McDonald’s China and Moncler, according to his LinkedIn profile.
Kardashian’s mother and longtime manager, Kris Jenner, is also a partner at the new company. Above TwitterShe said she was “proud, honored and delighted” about joining the company.
Skky Partners did not immediately respond to CNBC’s request for comment.
Kardashian originally rose to fame on the reality TV show “Keeping Up with the Kardashians,” which ran from 2007 to 2021. She now stars in the spin-off show “The Kardashians” and has 329 million followers on Instagram.
With the launch of Skky Partners, Kardashian became the latest celebrity to enter the venture capital and private equity arena, joining Leonardo DiCaprio, Gwyneth Paltrow and Serena Williams.
Tennis star Williams’ venture capital firm Serena Ventures raised $111 million in March and has invested in more than 50 companies totaling more than $14 billion since it was founded. in 2014. This includes the online learning platform MasterClass and the social audio app Clubhouse.
Kardashian has a track record of being a successful businessman. Her bodywear brand Skims was valued at $3.2 billion in January, while her KKW makeup brand gained massive popularity following its 2017 launch. In June, sales This individual rebranded KKW to SKKN when the company switched from makeup to skin care.
It’s also not the first time Kardashian has spoken out publicly about her finances and investments. In 2021, the star posted Cryptocurrency ads on her Instagram account, had about 228 million followers at the time. Since then, she has been sued by the crypto investor she promotes, EthereumMax. The class-action lawsuit, filed earlier this year, claims that Kardashian and other celebrities who promoted the token collaborated with its creators to “falsely advertise and sell”.
