Kevin Hart’s VC Firm Goes Big With First Institutional Investment From JP Morgan

Every celebrity is migrating into the VC space, it seems. Kevin Hart is the latest example of a notable entertainer making major moves in the investment space. 

The comedian’s venture capital firm, Hartbeat Ventures, has received its first institutional investment from JP Morgan, the largest bank in the US. According to the Hollywood Reporter, the bank provided “the max allocation” through Project Spark, an initiative launched by the bank to support firms led by underrepresented founders. 

Hartbeat Ventures, launched earlier this year, is an early-stage VC firm focusing on financial inclusion. In addition, the organization specifically focuses on Black and brown organizations in the lifestyle, media, and technology space. 

A big learning curve

Kevin Hart has been open about his difficulties on his journey into the venture capital space. The comedian described it as extremely difficult due to not understanding how investment and the economy worked.  

Read: Kevin Hart Partners With Black Sands Entertainment To Adapt Comic Series For TV And Film

“I had to learn why investing was okay. From my understanding, the world of investing – well, it was attached to the space of a con. You’re trying to con me out of my money,” Hart said in an interview with TechCrunch. 

“The biggest learning curve for me was understanding that the investment has a timeline attached to it and because I invested today, does that mean I get anything tomorrow?” 

Hartbeat Ventures have already invested in beverage company BrightFox, food delivery platform Snackpass, and avatar platform Ready Player Me. 

The additional funding will support more minority and underrepresented founders to give them the financial support they need to expand and grow.