TGZ Capital (which stands for Team Gen Z Capital), an influencer venture capital firm, has launched operations with its first reported investment.
Founded by social media stars Jake Paul, Cameron Dallas and young venture capitalist and entrepreneur Patrick Finnegan, TGZ aims to solve the problem startups have as they raise money at inflated valuations and this does not help them them succeed given their inability to acquire users, customers and engage with a broader audience.
Given the above, the fund – which reportedly has a final target of $10m – provides portfolio companies with capital and access to exposure to large audiences helping them to set up and run their social media strategy. It acts as the vc arm of Teamdom, a media conglomerate focused on building brands, stories, celebrities, and businesses around Teen Entertainment And Media.
The firm’s first investment was made in NYC-based cosmetics brand Winki Lux, which raised $2m in seed funding.
Cameron Alexander Dallas is an Internet personality and actor, best known for his prominence on the video application Vine and YouTube.
Jake Joseph Paul is an actor and YouTube personality who rose to internet fame on the now-defunct video application Vine.
Patrick Finnegan is a 19-year-old venture capitalist, entrepreneur and brand consultant.