Two and a Half Men's Angus T. Jones and Sean 'Diddy' Combs' Son Justin Are Partnering on an Events Company

Angus T. Jones and Justin Combs may sound like unlikely business partners, but the former Two and a Half Men star and the son of Sean “Puffy” Combs couldn’t be more excited to work together.

“Angus is someone I’ve admired for a very long time. I feel as though he and I share common ideas,” Combs, 22, tells PEOPLE of working with Jones on Tonite, which he describes as “a disruptive live events company.”

Jones, 22, has preferred a quiet life away from the spotlight since his decision to leave Two and a Half Men in 2014, but he feels that becoming president of entertainment for Tonite is a perfect way to transition back into the Hollywood scene.

“My pops was a rigger and started a[n equipment] rental company so I grew up working with my him on shows and festivals,” says Jones. “I’m excited to get to go into the venues and talk to them about the planning of their events.”

Combs – who serves as Tonite’s president of urban entertainment – was introduced to Jones through a mutual friend that Jones met while in school at the University of Colorado at Boulder.

“At its heart, Tonite is a movement, a feeling, a vibe, an energy,” Combs says of his new venture. “It’s something that people have to attend to understand. This isn’t another party, event or concert. It’s an experience. The youth spirit is accessible for anyone regardless of age, race, gender, sexuality. It’s a unique, culturally appealing venue with your favorite performers singing, rapping or mixing their heart out. And we’re going to be able to do a lot for kids in low socio-economic communities.”

Combs founded Tonite in October 2015 with Kene Orjioke, his classmate at the University of California at Los Angeles. They hosted a Halloween event last year featuring performances by recording artist and producer Travis Scott and critically acclaimed deejay Metro Boomin. They also partnered with Los Angeles Mayor Eric Garcetti’s education-focused philanthropic endeavor, L.A.’s Best.

Combs – whose name was last in the news when his father got in a dispute with Combs’ UCLA football coach last year – says his music mogul dad has had a big impact on his business sense.

“Something my father always stressed to me is that in business, things don’t always go your way. You can’t be scared to take chances or make mistakes. You have to learn from your mistakes and continue growing and pushing as a man,” says Combs, who graduated with a sociology degree in May and plans on getting a master’s. “And most of all, you always have to keep a good connection and faith with God and things will naturally fall into place and go the way they’re supposed to.”