JAY-Z and Will Smith are expanding their already impressive business portfolios by investing in the Airbnb-like camping app Hipcamp.
The company announced on Thursday that it has taken $25 million in its latest round of fundraising, and among those investors is JAY-Z’s Marcy Venture Partners and Will Smith’s Dreamers VC fund, per Complex.
“Hipcamp is on the forefront of culture, creating meaningful and joyful experiences with the outdoors,” said Marcy Venture Partners co-founder Larry Marcus. “While mobile devices and technology enables their marketplace of unique camping sites, Hipcamp experiences provide a welcome respite from those very devices. Their ethos of creating an inclusive community that values the environment, preservation, and the great outdoors makes them an ideal partner to our firm. We are thrilled to be partnered with Alyssa and the team to help grow their business.”
The app’s website notes: “We’re building a new kind of outdoor community where everyone belongs,” adding: “Our vision for Hipcamp is to fundamentally shift culture in a way that fosters widespread connections to the outdoors, encompassing every person who needs to breathe fresh air and directly experience nature’s awe-inspiring impact.”
via Complex:
The app was designed with getting as many people enjoying the outdoors as possible, providing users with unique locations regardless of whether they have the equipment or not. Their services ranges from cabins in the middle of the woods to tents just about anywhere, with hosts providing the spots just like with Airbnb.
“Spending more time outside has an undeniable, positive impact on people’s lives, and we’re so excited to support Hipcamp in their mission to get more people enjoying fresh air,” said Dreamers managing partner Kosaku Yada.
This is the latest big business move JAY-Z has made this week. On Wednesday, it was announced that the NFL has partnered with the rapper and his Roc Nation agency.
