Drake’s Virginia Black Whiskey Plans to Raise $30 Million Crowdsourcing From Fans
When Drake isn’t running through the 6 with his woes, he’s still making money moves. The “Started from the Bottom” rapper launched whiskey label Virginia Black in 2016, and now — in partnership with DeLeón Tequila founder Brent Hocking — fans can invest in the Grammy Award winner’s fortune.
According to a release, the entrepreneurial duo plans to file an initial public offering at the end of this year’s first quarter, giving anyone and everyone to opportunity to invest in the brand. The company is hoping to raise $30 million to fund domestic and international expansion, sales and marketing, and working capital. A single share costs $5 at a $100 minimum group buy-in.
But Hocking insists the company doesn’t need the money.
"Everyone in this deal is well-financed," he told BBC News. "This offering is more of Drake giving an opportunity for all of his fans to come and be a part of this with him and to create a large group of brand ambassadors that can be proud that they own a piece of Virginia Black."
And liquor isn’t the only strong suit for Drake. While he already has his own restaurant in Toronto, he just opened another hometown venue called Pic 6ix, where the rapper hosted a private birthday party for NBA star Dwayne Wade, CTV News reports.
Other notable names on the guest list included Lebron James, DJ Charlie B, DJ Meel, Baka Not Nice, DJ Steph Floss, Future the Prince, and OVO Chubbs.
As for cuisine, it’s rumored that sushi is on the menu. In a photo posted to the official Pick 6ix Instagram, the restaurant introduced its executive chef and partner Antonio Park, who has a colorful profile peppered with pictures of raw fish. Park, whose resume boasts a handful of different projects, has appeared as a judge on Food Network’s Chopped.
For more on the rich and famous, check out the 10 biggest celebrity food stories of 2017.