One of the best ways to build wealth is through making critical investments in the proper fields and at the right time. Furthermore, it doesn’t matter what background you have, as long as you have the drive and passion to see your strategies through. In recent decades, celebrities such as Leonardo DiCaprio, Ashton Kutcher, and Serena Williams have joined the venture capital industry and are trying their hands out in different outfits.
Another notable name throwing her hat in the VC ring is Kim Kardashian, with her newly formed SKKY Partners, alongside Carlyle group veteran Jay Sammons. They aim to make capital investments or take a controlling stake in media and consumer niche start-ups, as Kim posted in a tweet. But before we get on with what Kim is up to, and you would like to also invest in your own capacity, use the link to read more here.
What are SKKY Partners?
Although not much about SKKY Partners is known other than what Kim Kardashian has shared on her Instagram and Twitter. We can already tell that it’s a private equity firm that will be making key investments in companies in the consumer, hospitality, digital, and media sectors. Kim founded the company with her business partner, Jay Sammons, who has been in the industry for a while and has had a hand in brands such as Supreme, Vogue, and Beats by Dr Dre.
If that wasn’t impressive enough, Kim’s mom, Kris Jenner, who many credit for creating the Kardashian empire, will be joining them as a partner in the firm. An impressive lineup of business acumen and influential figures indeed. But to understand Kim’s current move, you have to take a step back and look at some of her other investments.
In 2019, Kim successfully launched her own line of shapewear, SKIMS and a skin care products line called SKKN. Not to mention her younger sister Kyle had also launched a very successful cosmetics brand, even though she has since sold it off. The point is that the Kardashians are quickly growing in the skincare and beauty sector, and SKKY Partners may be a front to kill the competition before they even become competitors.
Or the Kardashians have big hearts as their family is and are seriously going to help young entrepreneurs find the same success they have. As we had mentioned earlier, we really don’t have much information on the new venture, and only time will tell.
In addition, neither Kim nor the company’s website has shared anything about how they will raise their capital or if they will be funding the venture themselves. But if we know one thing about Kim, both options are a viable possibility, and her business drive will more than likely mean something will come out of SKKY Partners.
What is a Private Equity Firm?
A private equity firm is a company that invests in private companies that have not yet gone public. In some instances, they can enter into a partnership with the owners to run and manage the companies, while in others, they prime them for repackaging and reselling. However, they are not just limited to private companies and can also acquire public ones for the same reasons.
Most private equities run-off funds pooled together from institutional and accredited investors who earn dividends. Furthermore, private equities operate similarly to venture capitals and hedge funds and are an alternative form of investment for investors and founders. Therefore, positioning SKKY Partners as a force to be reckoned with in the investment industry and potential creators of the next most significant companies in their areas of interest.
Bottom line
The saying, make hay as the sun shines, may mean the same to us but might be more significant if you’re a celebrity. Everyone in this field understands that there will come a time when your star doesn’t shine as bright as it used to, and it’s essential to have a plan B for when that time arrives. The more challenging question then becomes what to invest in to secure a great future. Fortunately, many celebrities have found success investing in industries such as VCs and hedge funds. Kim Kardashian is the latest entry with her private equity firm, and we wish her the best of luck as she endeavors in this next chapter of her life.