Madonna's manager, Guy Oseary, said the "Material Girl" singer invested in Vita Coco and also convinced a number of other celebrities to also invest in the New York-based company, the New York Post reported Sunday.
Among the celebrities that also purchased stakes in the coconut water manufacturer were film stars Mathew McConaughey and Demi Moore, along with singer Anthony Kiedis of the Red Hot Chili Peppers.
The celebrity investments, along with an investment by Oseary, are estimated to total less than $10 million, but represent a minority stake in Vita Coco.
Oseary said one of the attractive points about the company was its independence, the Post reported.
"The fact that they are saying no to everyone who wants them is pretty cool," he said. "You want to go to the party that no one else is invited to."
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