While most artists thinks about starting more businesses around the entertainment realm, Pras Michel is thinking "beyond it."

The former Fugees member is teaming with businessman Frank White, Jr. and venture capitalist Shomik Dutta to create DuSable Capital Management LLC. The company hopes to oversee a $500 million to $1 billion fund and plan to focus their investments in renewable energy (green energy).

White is known as one of President Barack Obama's biggest fundraisers. In 2008, he raised $10 million for Obama's intro into the White House. He and Pras met during the 08 campaign.

Of the new hedge fund company Pras says, "I'm fascinated that as the most powerful country, we should be No. 1 in energy and infrastructure, and we're not. We're trying to do our part."