Jay-Z is now in the business of helping startups. The rap mogul has formed a venture capital firm called Arrive, which will focus on helping emerging businesses.
According to the story in Tech Crunch, Arrive is a partnership between Roc Nation, Primary Venture Partners and GlassBridge Asset Management, a company that has since moved into venture capital.
In a press release, Roc Nation stated that their investment platform will assist budding startups and offer funding, business development, branding and more.
“ARRIVE was created to leverage our experience and resources in building brands, developing consumer facing businesses, managing artists and representing athletes,” said Roc Nation’s Head of Ventures Neil Sirni (via the press release). “We’ve opened that diversified, global range of expertise to a new vertical: entrepreneurs and their early stage businesses. ARRIVE also anticipates the launch of a traditional venture fund in order to, among other activities, support existing portfolio companies through their subsequent growth stages.”
In addition, Roc Nation also plans to focus on social impact investing later in 2017. Separately, Roc Nation and its principals continue to strengthen various partnerships to expand its presence in the high growth, early stage community. Jay Z, himself, has already invested in a few startups including Uber, Stance and others.
Mad love to Jay-Z for helping other entrepreneurs and much success on his new venture.