It's probably time for Drake to abandon his "Champagne Papi" pseudonym to something more whiskey-related... The rapper-slash-alcohol industry mogul behind Virginia Black, a "decadent American whiskey" brand that he co-founded with Brent Hocking of DeLeón Tequila, is now offering fans an opportunity to invest in his business.
According to a press release, Drake and Hocking are planning to launch a public offering of Virginia Black in hopes to raise as much as $30 million for their company that is on a mission of "redefining" the popular drink. The share price is $5 a piece and potential investors are required to spend a minimum of $100 in order to participate.
Despite the ambitious end goal, Hocking says their campaign is more about "raising awareness of the brand than cash." He told BBC:
"Everyone in this deal is well-financed. This offering is more of Drake giving an opportunity for all of his fans to come and be a part of this with him and to create a large group of brand ambassadors that can be proud that they own a piece of Virginia Black."
When asked about Virginia Black's success so far, Hocking said the company has sold 60,000 cases of their Indiana-made bourbon in the past 15 months. A bottle of Virginia Black retails at about $40. To invest in Drake's biz, visit the Virginia Black Whiskey Banq website.