Rapper Pitbull, looking for the next big start-up investment, says biotech is a good bet

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Miami, Florida is a springboard for Latin America tech start-ups: Pitbull

Pitbull is looking for the next big start-up investment.

The Grammy Award-winning rapper and entrepreneur is taking part in this week's eMerge Americas conference in Miami. The two-day technology summit is host to more than 100 young companies, all in town to pitch their business ideas.

Pitbull, whose real name is Armando Christian Perez, is not only one of the partners in the conference, he's also an investor who will be one of the judges of the Startup Showcase Finale.

So what does he think is a good bet?

"I always like to look at what's going on in the biotech side of things," he told CNBC's "Power Lunch" on Tuesday.

"That's a field that is always going to continue to grow and people are always going to be looking for technology to make humans better or to be able to cure humans."

However, that doesn't necessarily mean he'll walk away from the conference backing a biotech start-up.

"Coming from the music industry, you never know what record is going to hit, what record is not going to hit. So it's always about just sitting back and being able to learn."

The musician, who hails from Miami, said he prefers investing in the next generation of investments versus companies that are now going public.

This way, he can watch the company grow "from the root to the fruit."

"It allows us to really understand and evaluate what the outcome is going to be in the future and that to me is the best process because I love to see the journey and I love to see growth."

— CNBC's Riley de Leon contributed to this report.

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