Drake to launch IPO for Virginia Black, swapping Hennessy for whiskey

Brent Hocking and Drake

Brent Hocking and Drake

Drake, whose playlist of new music "More Life" broke more than 1 billion streams previous year, co-founded Virginia Black with Brent Hocking, the booze entrepreneur behind DeLeon Tequila.

The joint venture behind Virginia Black Decadent American Whiskey has announced its intention to offer shares in the brand, with the aim of raising up to US$30m. The pair believe that is is a rare opportunity for investors to capitalize on the strength of the brand and help "redefine" the whiskey culture in North America as a result. Drake and Hocking plan to raise $30 million. The offering is expected to begin at the end of the first quarter with TriPoint Global Equities LLC acting as the bookrunner. "From inception, we wanted everyone to enjoy Virginia Black and are pleased to extend the opportunity to millions of Americans and other investors around the world to become part of the Virginia Black family".

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The offering allows Drake's fans to invest in the whiskey.

Drake recently released a Virginia Black commercial, starring himself and his father Dennis Graham.

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Earlier this week, Drake and his business partner OVO Chubbs hosted a pre-opening celebration for their new restaurant Pick 6ix ahead of its upcoming official launch.

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