Michael Angelakos, the founder and frontman of the popular band Passion Pit, is launching a company to support musicians and provide them with legal, educational and healthcare services.
The New York-based company is called The Wishart Group and has already raised $250 million in funding for its mission.
For Angelakos, the establishment of The Wishart Group is highly personal, as the singer was diagnosed with bipolar disorder at age 17 and has struggled with it ever since. The company is supposed to help musicians with similar struggles, as well as those with other problems that record labels and agents may not address.
Though Angelakos is still expected to come out with a public announcement providing more details about the project later on, we do know that big names from the music and tech fields are on the company’s board and otherwise involved with funding and support for the project, which they describe as an “artist research and protection service”.