Iann Dior, a rapper on the rise, is just as well known for his embellished fingernails than his beats. He was awarded the No. 1 Billboard song “Mood,” with 24kGoldn. 10K Projects, his record label, has invested in a men’s grooming company through a new initiative.
“We thought that it was a cool business that was saying, “Be who your heart desires to be.” Iann has worn its nail varnish. Elliot Grainge is the founder of 10K. He promotes it; he’s a member of that entire process.” “And he’s got a tremendous fan base, where if he promotes something, there is a portion of them that will want to be part of it.”
10K Ventures was quietly launched by Grainge this summer to invest in early-stage tech companies. Este Lauder managed a seed round totaling $3 million for the Faculty World investment. Individual investors are Maisie Williams, Dior, and Maisie.
Lucian Grainge was a 30 under 30 Music alumnus. His son, Grainge, founded 10K Projects. In 2016, Grainge demonstrated a knack for backing winners, not just in the music world but also in the market. 10K Ventures plans to spend between $100,000-$1 million on each round to support 15-20 companies during its first year.
Although his label has grown in size, Grainge has maintained a commitment to being artist-centric and nimble. So, his new venture is more than a money play.
10K Ventures is attempting to ignite heat through brands’ symbiotic relationships with the music industry in an age where consumers are increasingly wary about advertising that fails to make an authentic connection. This is specifically with artists on the 10K list, including Trippie, Surfaces, Coin, and Coin.
“The audience knows what they want. They can smell the organic connections between an influencer or a business and know what products they’re being forced to buy,” Grainge states. “We can’t force it. However, if there are synergies between the two sides, these are the partnerships with the greatest cultural currency.”
Grainge’s door is wide open. 10K Ventures has funded the following businesses:
- Ohza canned cocktails company.
- WonderWorks Studio, one of the largest studios that create immersive experiences in Roblox’s ecosystem.
- FutureMood sunglasses manufacturer, which featured WizTheMC from 10K Projects in its latest ad campaign.
PlayWRK operates under the Venture Capital as-a-service model. The team has partnered with PlayWRK to ensure they are building the most valuable portfolio. Maggie Sellers (co-founding partner at PlayWRK) was previously head for artist development and brand strategy at Electric Feel Entertainment. Maggie’s 10K plan is a natural way to help corporate innovation.
Sellers states, “Bringing in innovative brands and concepts to the artist ecosystem is not something you often find.” Elliot’s entrepreneurial environment and out-of-the-box VCaaS approach create the ideal setting for record label innovation, actual artist growth, and creative control for artists.
They are particularly interested in the number of direct-to-consumer companies that emerged or gained steam during the pandemic. “There are many excellent companies. The only thing they need is an audience. According to Grainge, it is tough to create an audience right now. “We can fit there. We work with amazing artists, and our artists have great networks. It is possible to make some connections there.
Grainge is hopeful that 10K Ventures can help him bring in more talent.
“We want to show that signing to 10K can have a positive impact on your career, and we need to act quickly. We want our artists to be rich beyond music. We also want them to have the chance to grow their brands and increase their revenues through other media. Your income is what we are looking at four years from now. He believes that’s a valuable addition we have, which the majors don’t.”
“We have demonstrated that we can break their songs. If we can help them break their brands and help them partner up with other businesses and brands, it is a great way for them to make a lot of money. If we were a part of that, then we’re not just a music business. We’re a media company.”
