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Chainsmokers Band Plans to Invest $50 Million in Startups

  • Previously angel investors, the duo is raising the Mantis fund
  • Latest investment is Loansnap, a mortgage lending business
Alex Pall and Drew Taggart of The Chainsmokers perform in New York, on Oct. 16. 

Alex Pall and Drew Taggart of The Chainsmokers perform in New York, on Oct. 16. 

Photographer: Bryan Bedder/Getty Images 

Grammy Award-winning artists the Chainsmokers are expecting to invest $50 million in startups, with a newly formed firm, Mantis.

Musicians Alex Pall and Drew Taggart, who were already investing in startups with their own personal capital, are raising a venture fund.