Bhad Bhabie and Lil Yachty invest in a Jewish dating app called Lox Club.
If that first sentence sounds like I’m playing a game from Mad Libs, don’t be too surprised. Celebrities and musicians are teaming up to invest in tech start-ups, live streaming and new social networking opportunities. Bhad Bhabie and Lil Yachty started a venture capital fund called Scoop Investments, led by manager Adam Kluger.
Scoop Investments’ first opportunity is to invest in Lox Club, a Jewish dating app. The app describes itself as being aimed at “Jews with ridiculously high standards.” The developers describe the app as “a virtual sweatshop hidden in an old-fashioned grocery store”. Lox Club does not rely on algorithms like traditional dating apps; instead, it uses real human matchmakers.
“J-Date is screaming in despair; J-Swipe is just a piece of crap. There is a real gap in the market ”, said Adam Kluger. “I was so surprised how cool it was. Yachty and Bhabie saw the passion when I was talking about [it], and everyone started asking me questions. Finally, I said we should get together and do it as a group.
Kluger says he heard about the Lox Club from friends who encouraged him to download it. Scoop Investments was born out of the group’s interest in investing in Lox Club. Kluger has been directing Bhad Bhabie since she went viral on Dr Phil as “Cash Me Outside Girl”, helping her pivot to rap.
Kluger started working with Lil Yachty about a year and a half ago, turning him from a simple rapper to a mogul. Yachty has partnered with companies such as General Mills and Burger King, launched its own line of nail polish, among several other business ventures.
Bad Bhabie is half Jewish and can participate in the marketing of the Lox Club. Lil Yachty can also show up at launch events. But the details of these appearances have not been finalized. Scoop Investments is also here to stay – although it was started for Lox Club, that is not the only focus of the venture capital fund. Kluger says the fund will remain neutral on the industries in which the fund invests, focusing instead on specific companies.
“Everyone in the fund, between me, Bhabie, Yachty and a few others – at least two people need to be able to add value to a business,” Kluger said of future investments. “We are looking for financially sound opportunities, but we also need to make sure that at least two members of our group could really support an investment and add value.”