Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on the day's biggest business stories
Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Photo: RNewsfoto/Triller
Josh Richards is joining Remus Capital, an early-stage venture capital firm, as a Venture Partner, Axios has learned.
The backdrop: Richards, 18, has more than 22 million followers on TikTok and is an angel investor and chief strategy officer at Triller. Remus invests in startups that cater to Gen-Z, like boutique fitness app ClassPass.
Why it matters: So much of being a good early-stage investor is about having a unique network to find hot companies early — so it’s no surprise a VC firm sees value in an influencer like Richards, who, along with his TikTok following, has already ventured into podcasts and is working for Triller.
- Equally unsurprising is that young TikTok stars like Richards want to use their fortunes to become professional tech investors.
- They’ve grown up with smartphones and have been exposed to the culture of investing through collaborations with even bigger stars and celebrities.
- They live in Los Angeles, which has a local tech industry of its own right (not to mention tech role models like Snap’s Evan Speigel).
Details: Richards rose to fame this year alongside several other young, male creators as members of the "Sway House," one of the prominent TikTok creator collaboratives, headquartered in a mansion in Bel Air.
- Richards and fellow "Sway House" TikTok stars Bryce Hall and Griffin Johnson have already used some of their TikTok earnings to invest in a few early stage media and tech startups.
- Richards left the Sway House earlier this year to focus on investing and other projects. He will still serve as CSO of Triller, the rival TikTok app.
The big picture: Financial advice on TikTok is a growing theme, for better or worse. Young TikTok users, bored at home during the pandemic, have taken to trading apps like Robinhood this year for retail trading, sometimes getting themselves into financial trouble.