The worlds of pop music and tech companies continue to move closer together.
Scooter Braun is heading a $120 million investment fund, which could potentially reach $200 million under “certain conditions”.
The New York Times first reported the story, saying the fund will invest in tech companies, publishing, and other areas.
Braun manages Justin Bieber, Carly Rae Jepsen, Psy, and others. He is in “advanced talks” with potential partners, including Drake, Drake’s managers, Shania Twain’s manager, and Lady Gaga’s ex-manager Troy Carter.
Carter has a history of investing in tech companies, including Spotify, Uber, and Dropbox.
The project’s board members include Hollywood producer Thomas Tull and David Politis, founder of BetterCloud. Jeffrey Katzenberg, chief executive of DreamWorks Animation, is reportedly an informal adviser.
Justin Bieber is also said to be involved in the venture. Bieber recently invested $1.1M in a new social network.
Braun already owns SB Projects, a company that includes two record labels and consulting, management, and publishing divisions.
Image by justinbieberoriginal, licensed under Creative Commons Attribution 2.0 Generic (CC BY 2.0)