Kim Kardashian’s Private Equity Firm Struggling

Kim Kardashian’s private equity firm is struggling. It’s hit a fundraising dilemma. She managed to turn SKIMS into a $4 billion brand.

She wants to build the next generation of wealth with SKKY Partners, her new private equity firm. However, it hasn’t worked to her advantage. Keep on reading to learn more.

Kim Kardashian – Started Private Equity Firm

In October 2023, Kim Kardashian announced the launch of her private equity firm, SKKY Partners. The SKIMS founder was riding high off the success of her loungewear brand.

Kim founded SKKY Partners with her business partner, Jay Sammons, who is also a veteran of Carlyle. She was inspired to create a portfolio of companies that don’t have a famous last name.

“People will really understand that this is a serious fund,” Kim Kardashian told Fortune.

The Hulu star has been very serious about this venture. Around the time, she dyed her hair back to its signature jet-black color. She also wore turtlenecks in meetings.

Fans joked that Kim likened herself to the Steve Jobs of finance. It’s common for celebrities to turn into investors. Most of them sign a check and hope for the best. Kim claims that she was involved in the process.

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“I wouldn’t be involved in anything if it wasn’t fully hands-on,” Kim told Fortune. “There’s no other way.”

SKKY Partners started funding in March 2023. It’s mainly focused on areas such as beauty and fashion. It’s also expanding its portfolio with the food, beverage, and hospitality industries. Kim thrives on “authenticity” when it looks to funding startups.

“It’s not like they’re to start working with my fund and all of a sudden their whole brand is nude and beige, like a Kim-branded company,” Kim Kardashian noted.

SKKY Partners Struggles With Financing

Just seven months later, SKKY Partners is struggling to land funding. According to a Page Six report, it only earned a fraction of its $1 billion goal.

The recent filings showed that it only earned $121 million in capital commitments since late March. It doesn’t reveal which companies gave money to Kim Kardashian’s private equity firm.

SKKY initially wanted to invest in consumer and media companies. It was assumed that Kim would promote these companies.

She claimed she would take on the role of a traditional private equity adviser rather than a brand ambassador as she did on social media.

Kim Kardashian built a strong team. The investors can’t do anything until they have the money they need to work with. What are your thoughts on her private equity firm struggling with its funding? Sound off below in the comment section.

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