Kim Kardashian and Jay Sammons to launch a new private equity firm

Kim Kardashian and Jay Sammons are launching a new private equity firm focused on investing in consumer and media businesses.

The new firm, named SKKY Partners, will make investments in sectors including consumer products, hospitality, luxury, digital commerce and media.

Celebrities including Leonardo DiCaprio, Ashton Kutcher and Gwyneth Paltrow are turning prolific investors in the private equity and venture capital space.

Kardashian has gained success in her recent business ventures such as shapewear label Skims and makeup brand KKW.

Her launch of a private equity firm also underscores a broader shift among renowned Hollywood celebrities including Leonardo DiCaprio, Ashton Kutcher and Gwyneth Paltrow.

Serena Williams raised $111 million for her early-stage venture capital firm Serena Ventures in March.