Kim Kardashian is teaming with a former venture capitalist to launch SKYY, a private equity firm focused on consumer and media businesses. File Photo by Bonnie Cash/UPI | License Photo
Sept. 7 (UPI) -- Kim Kardashian is adding to her growing brand with a private equity firm called SKYY.
The Wall Street Journal reported Wednesday that Kardashian, 41, would be helming the firm, which will be focused on investing in consumer and media-related businesses.
Kardashian will not be alone in the endeavor, as she will be teaming up with Jay Sammons, previous head of consumer funding at mega venture capital group Carlyle, to run SKYY.
The Journal reported the firm will make investments in several sectors related to consumerism and media, including hospitality, luxury goods, digital commerce and entertainment.
In a post on social media, SKYY said it would focus on "both control and minority investments in high-growth, market-leading consumer and media companies."
The Journal reported the venture began when Sammons, who is a friend of the Kardashians, approached Kim and her mother, Kris Jenner, about starting the firm.
Jenner will also join SKYY as a partner.
SKYY is the latest in a line of business ventures for Kardashian, who first become famous for her appearance on the reality show Keeping Up with the Kardashians, and was married to rapper Kanye West for eight years.
She launched her own beauty brand, KKW Beauty, in 2017, and sold a stake in the business last year that reportedly valued it at $1 billion.
Kardashian also has Skims, a line of shapewear for women, as well as investments in real estate and a content deal with Hulu that the family signed in 2020.
It was reported by Forbes in April 2021 that Kardashian had officially crossed the threshold and become a billionaire.
She is possibly not the first member of her family to hit that net worth, either.
Her younger sister, Kylie Jenner, was named by Forbes as the youngest self-made billionaire, though critics have argued against this title due to the Kardashian family's foundational money and influence.
SKYY said it hopes to have made initial investments by the end of the year.