Chamillionaire And E40 Team Up To Invest $100K In Female Or Minority Start-Up Company
Chamillionaire has come a long way since his “Riding Dirty” days.
Now, the Grammy-Award winning rapper is a major businessman and using his wealth to better the community. In his latest initiative, he and fellow rapper E40 are joining forces with Republic (a platform used to invest in start-up companies) to invest $100,000 in a start-up business founded by a woman or minority.
Chamillionaire, whose real name is Hakeem Seriki, said,
“Being an entrepreneur isn’t easy, but it’s even harder for minority and women-led companies. These people are solving new and unique problems and I think the only thing in their way is capital.”
Chamillionaire has already invested in major companies like Lyft, Ring and Maker Studios, which is bought by Disney.
This time around, the focus is on African-American startups. He added,
“When people say they can’t find African-American startups to invest in, it just sounds a little crazy to me. At one point I was getting 30 candidates a month, but when I said I only wanted to invest in women or minorities I started getting just two candidates a month.”
Chamillionaire’s social app that he started in 2016 will serve as the avenue that companies will submit their pitches.
Chamillionaire and Republic will take a look at the pitches, and E40 along with “Shark Tank” investor Daymond John will help select the five finalists and the ultimate winner.
“We’re not just talking about an idea. We’re talking about a real company.”
John also said,
“I am so excited to be one of the judges in the $100,000 pitch competition. If you feel that you are ready to pitch and knock it out of the park, I can not wait.”
Chamillionaire and E40 also pitched the initiative on social media.
View this post on Instagram
Attention Entrepreneurs: @Chamillionaire, @e40, and @joinrepublic will be INVESTING $100k in a minority or woman founded startup so watch this entire video for details. @thesharkdaymond will be helping choose the winners. Download the @convoz app for iOS or Android to participate. Good luck! Tag someone that you think needs to see this. #ConvozPitch #100KPitch
The competition kicks off on Nov. 11 and will end on Dec. 6.
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