“The Hunt brings a fun and innovative approach to shopping and fashion,” stated Tyra Banks, Supermodel and Founder of Fierce Capital, LLCWhen thinking of Harvard alums turned coporate captains think Tyra Banks. Yes, that’s correct. Banks, recent Owner/President Management program grad at the prestigious university has taken her new credentials to form Fierce Capital, LLC an early-stage and start-up venture fund. Of course, the new firm has stated that part of its mission statement will be to focus on firms that are “female-led or female-focused”.
In an age where private investment and fashion have crossed paths with great frequency it is quite impressive (and rare) to see a former fashion model spearheading a capital group with Harvard diploma in hand. This could be a trailblazer for more modern female investment executives to come.
Banks first investment is with The Hunt (seen here), a new platform that integrates social media such as Pinterest and Instagram by linking shared ideas with actual purchase opportunities. The Hunt is described in their release as a “community-driven shopping experience”.
While details of the investment have not been disclosed, The Hunt is listed in their release as having raised $2.7 million in early stage funds. banks has indeed broken new territory already making a name for herself in media. Attaching her personal brand in a technology marketplace rife with investment opportunity but at high risk of disintermediation is a shrewd move in helping to bolster the strength of the underlying company.
With this play Banks joins other celebrity investors in this venture such as famed record exec Guy Oseary and actor turned investor Ashton Kutcher who has made a splash of late with early stage tech investments. A few months ago Kutcher’s investment in Summly paid-off handsomely as Yahoo! purchased the small content-aggregator for $30 million.
Fierce Capital is certainly in good company with this first major move.