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Rumor Report: Jay Z To Launch Venture-Capital Firm

Vandal Arts February 21, 2017 0

JVC

Roc Nation President Jay Brown and Hov are leveling up once again. As reported by Axios’ columnist Dan Primack, the dynamic duo is set to launch a new Venture-Capital firm with Sherpa Capital. Though collectively the pair has been financing budding tech companies for the last 5 years, this is the real first investment of the sort by either party.

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Jay Z, whose real name is Shawn Carter, has been investing in tech startups since at least 2012. Both Carter and Brown invested in Uber’s Series B, according to Axios, and Carter has invested in three other startups: the high-tech-luggage maker Away, the nail-parlor company Julep, and the private-jet startup JetSmarter.

Carter is also the co-owner of the music-streaming service Tidal.

Carter and Brown’s fund will focus on seed-stage companies, but the fund size hasn’t yet been confirmed, according to Axios.

[via Business Insider]

Related: Sprint Partners With Tidal For New Partnership

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