When you think of The Chainsmokers, your mind probably jumps to their string of global, chart-topping hits like “Closer” or “Don’t Let Me Down”. For years, Alex Pall and Drew Taggart have dominated festival stages and radio waves. But their most strategic and arguably most impressive move has been happening far from the DJ booth, in the high-stakes world of venture capital. This isn’t just a celebrity side-hustle or a vanity project; it’s a meticulously crafted business empire that serves as a masterclass in career longevity. 1
Their venture capital firm, Mantis, recently made headlines by closing its third fund, securing an additional $100 million in capital. This brings their total assets under management (AUM) to a staggering $225 million. With over 170 companies in their portfolio, it’s clear that Pall and Taggart are not just dabbling in investing—they are building a durable financial institution designed to outlast the hype cycle of the music industry. This is the story of how two of music’s biggest stars are engineering a second act that might just be more successful than their first. 2
Why Venture Capital? The Strategy Behind the Move
For many successful artists, the path to diversification often leads to familiar territory like clothing lines or liquor brands. The Chainsmokers themselves are stakeholders in JAJA Tequila. But their ambition went further. The motivation behind Mantis was a desire to build something with lasting impact and to avoid the pitfalls of a volatile industry. Relying solely on streaming royalties and tour revenue is a risky game, even for the biggest artists.
Pall has been clear about his intentions, stating, “We are willing to do the things that other entertainers or athletes simply aren’t“. He describes himself as a “full-time investor,” not just a famous name on the door. The effort involved in raising their latest fund underscores this commitment. Pall described the process as a “grueling” grind that required “thousands of calls” and immense personal sacrifice, with pretty much everything else in his life taking a backseat. This level of dedication is what separates Mantis from a passive investment and establishes it as a serious financial player. They saw an opportunity to leverage their unique position to build generational wealth and a legacy beyond their musical achievements.
How They Built a Credible Firm
The Chainsmokers understood from day one that their fame, while a powerful tool, could also be a liability, inviting skepticism about “dumb celebrity money.” To counteract this, they built their firm on a foundation of credibility and strategic intelligence.
Their first and most crucial decision was to not go it alone. They partnered with seasoned venture capital professionals and entrepreneurs Milan Koch and Jeffrey Evans to co-found Mantis. This hybrid structure was a masterstroke, immediately giving the firm the operational and financial rigor it needed to compete. It fused the duo’s immense cultural reach and branding expertise with the disciplined investment approach of their experienced partners. Their stated goal was to build an “immediately recognized and respected generational fund,” not “just another celebrity fund”.
Perhaps the most telling part of their strategy is their investment focus. While it would have been easy to stick to consumer-facing brands, Mantis deliberately targets complex and often unsexy B2B and deep technology sectors. They focus on early-stage (Seed and Series A) startups in fields like cybersecurity, artificial intelligence (AI), fintech, and cloud infrastructure. This forces the market to judge them on the quality of their investments and the performance of their portfolio, not their celebrity status.
This leads to their unique value proposition, which they call “social capital”. This isn’t just about a promotional tweet. It’s about actively deploying their entire network to solve real-world problems for the companies they back. Founders have praised them for helping to close critical engineering candidates, making warm introductions to potential customers, and offering hands-on branding advice. They pride themselves on being the most helpful and responsive investors on a company’s cap table.
The Results Are In: A Chart-Topping Portfolio
A venture firm is only as good as its track record, and Mantis has been putting up impressive numbers. Their strategy has attracted high-profile limited partners (LPs), including billionaire investor Mark Cuban, who have reaffirmed their commitment across multiple funds.
The portfolio itself is a testament to their ability to pick winners in highly competitive fields. They were early investors in the cryptocurrency exchange Coinbase before its massive IPO. Their first two funds have backed several “unicorns”—private companies valued at over $1 billion—including cybersecurity firm Chainguard, fantasy sports platform Underdog, and digital dental lab Dandy. These aren’t simple apps; they are complex businesses solving major industry problems. 3
The ultimate proof is in the returns. Mantis’s debut fund, which closed in 2020, is currently performing in the top decile of its vintage. This means it has outperformed over 90% of other venture funds launched in the same year—an elite level of performance that silences any remaining skeptics.
The New Blueprint for Artist-Investors
The Chainsmokers are part of a growing trend of musicians entering the investment world, but their model represents a significant evolution. Pioneers like Nas, with his prolific tech-focused syndicate QueensBridge Venture Partners, and Jay-Z, with his culture-defining firm Marcy Venture Partners (now MarcyPen), paved the way.
However, Mantis has carved out a unique space. While Jay-Z’s firm focuses on consumer brands that “lead culture,” The Chainsmokers have taken a different path. By diving deep into B2B and infrastructure technology, they are building a brand based on technical acumen and investment discipline itself. They’ve combined the institutional structure of a firm like MarcyPen with a focused, tech-first thesis that more closely resembles a traditional Silicon Valley fund. They are proving that an artist’s “social capital” can be a powerful asset even in sectors far removed from the public eye.
By strategically building a credible, high-performing venture capital firm, Alex Pall and Drew Taggart have done more than just diversify their income. They have engineered a resilient, long-term business that leverages their unique skills and platform in the smartest way possible. They’ve created a new blueprint for success, demonstrating that for today’s artists, the real power lies not just in creating culture, but in owning a piece of the future.
- https://www.forbes.com/profile/the-chainsmokers/ ↩︎
- https://www.musicbusinessworldwide.com/the-chainsmokers-mantis-ventures-investment-firm-raises-100m-for-third-fund/ ↩︎
- https://www.latimes.com/b2b/banking-finance/story/2025-07-23/mantis-vc-closes-100-million-fund ↩︎
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