Jay Z Is Launching A Venture Capital Fund

By on February 24, 2017 in ArticlesMusic News

You can say a lot of things about Jay Z, but one thing that you can't say is that the man isn't about his business. The 47-year-old musician and mogul has made utilized his money wisely, creating and investing in a variety of companies including Rocawear, the Nets basketball team, 40/40 Club, Jetsmarter, and Tidal among others. Now, the Brooklyn-born rapper is looking to make his money work even more, as he is reportedly starting a venture capital fund.

According to Axios, Jay Z is starting a venture capital fund with Jay Brown, one of Jay's longtime business partners and current president of Roc Nation. According to the report, the two are looking for a full-time investment partner. They are also working with Sherpa Capital, a San Francisco venture capital firm which has invested in companies such as Uber, Airbnb and Slack.

(Chris McGrath/Getty Images)

Axios also reports that their focus will be on "seed-stage tech opportunities," with this VC fund "being the institutionalization of Jay Z and Jay Brown's previous angel investing opportunities." The pair were both involved in Uber's Series B funding round back in 2011, which valued the company at $300 million. The company is currently worth roughly 200 times more now.

As for Jay's current major investment, Tidal, they managed to sell one-third of its Stake to Sprint last month for $200 million. Jay bought the service for just $56 million two years ago.

Jay isn't the only rapper getting involved in venture capital funding. Nas has his own fund, Queensbridge Venture Partners. Read more about it here.

Articles Written by Marvin Jules
Marvin Jules is a freelancer with a passion for music and sports He is a graduate of Rutgers University with degrees is Communication and Human Resource Management. In addition to writing, he also runs an online store where he curates and sells vintage clothing and accessories. You can follow him on Instagram here (IG: 9to5thrift)
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