Tariq Trotter, the rapper known as "Black Thought" from Philadelphia's famed hip-hop group the Roots, is looking to make an impact in his hometown with his latest venture: venture capital.
After joining pre-seed and seed venture firm Impellent Ventures as a general partner in May, Trotter said he’s aiming to foster bonds with entrepreneurs working in Philadelphia’s early-stage startups.
“I’m looking to invest in the underdog, and I’m looking to serve as a bridge between the spaces of the arts and investment, to intersect at places that they wouldn’t naturally cross paths,” Trotter said.
Trotter said he also hopes to make the startup realm more accessible while working in venture capital.
“At the end of the day, the idea is for me to make this space less intimidating, more relatable, and if I’m able to do that, and to help facilitate financial freedom and generational wealth for folks from traditionally marginalized communities, then that would be awesome,” he said.
While he couldn’t speak to investments in specific startups, Trotter said he has particular interest in ventures associated with the arts.
“I feel like Philadelphia is the city of the arts,” he said. “So yes … I feel like it’s safe to say that I’ll be looking to invest in the arts space there in the city, but not only in the arts space.”
Throughout his life, Trotter said he learned about investing through friends and colleagues. His initial exposure to the “entrepreneurial spirit of the area” surrounded real estate in his native South Philadelphia, but added that “people who were able to invest in anything were few and far between.”
Trotter, 49, co-founded the Roots in 1987, and the group currently serves as the house band on "The Tonight Show with Jimmy Fallon." Currently based outside of New York City, Trotter has also spent time living in London and Los Angeles. In addition to his music career, Trotter has appeared in television shows and movies, and this year starred in the off-Broadway production "Black No More."
"The man is an absolute Renaissance man," said Philip Beauregard, the managing general partner of Impellent Ventures who brought Trotter on board.
Beauregard and Trotter initially connected on Twitter and remained in touch. When Trotter expressed interest in learning about venture capital, the pair met with Impellent founder David Brown over dinner in March.
Partnership papers were signed roughly two months later.
“I feel like this is a beautiful way to begin the next chapter in my career, in my life, and this is sort of what happens next,” Trotter said. “So it’s exciting for me.”
Founded in 2018, Impellent Ventures focuses on various technology sectors including artificial intelligence, consumer goods and health care. The firm has offices in Boston, Los Angeles and New York.
Trotter and Beauregard both agree that the celebrity’s fresh perspective, personal brand awareness and ties to Philadelphia will serve as assets to the firm.
“I am an artist. I am a creative. I am an entertainer. I don’t come from the business world, but I am now in it,” Trotter said. “They are businessmen who don’t come from the space that I come from, but they are now in my space. So I feel like that intersection is what is going to create the opportunity, and what is going to make the difference. That is what makes us unique.”
In his new role, Trotter will be often tasked with wearing the hat of advisor.
“Mentorship is huge to me,” Trotter said. “Had it not been for my mentors, my trajectory would have definitely been a different one. ... I think it’s just important to set an example for young people, young Philadelphians in particular … to see some reflection of themselves in unique spaces."
When asked his advice to startup founders, Trotter was candid.
“Remain true to yourselves and to your brands, and be patient,” he said. “Sometimes people see returns overnight. The meteoric rise does exist in this space but, again, they’re few and far between. I think patience is definitely a virtue and don’t be afraid to ask for advice from someone who’s more experienced than you. Sage wisdom is invaluable.”
As a self-described "disrupter" and “catalyst for change,” Trotter said he’s ready to make an impact as he spends more time in Philadelphia’s startup world.
“I’m excited, and I’m looking forward to really everything — all things to come,” he said. “I’m excited at the thought of the possibilities, which are limitless and endless. I look forward to changing the landscape of the city."
