Jay Z Set to Launch Venture Capital Fund For Startups
Author: Zachary Reyes Feb 22, 2017,
Feb 22, 2017, 15:13
A rep for Jay Z didn't immediately respond to a request for comment.
Fresh off a courtroom win, and a large investment in Tidal from Sprint, comes news via Axios that Jay-Z will soon be a partner in a venture capital fund.
Music mogul Jay Z will be launching a venture capital fund that will invest in start-up tech companies according to reports. The duo will reportedly work with Sherpa Capital on some of these investments, though they'll have their own brand and will not use current Sherpa staff.
Venture capitalists identify and invest in promising businesses-and Jay-Z definitely knows a thing or two about what's hot. Axios notes the VC fund will likely focus on "seed-stage tech opportunities".
Per Business Insider, Carter has invested in three start-ups. The company went on to raise an impressive $8.5 million in a Series A financing round last summer. Other investors included Lady Gaga along with Will Smith and his wife Jada Pinkett Smith.
He has invested in companies like Uber and Tidal and his entertainment company, Roc Nation, invested in ventures like BlackJet and audio company Devialet, Cruchbase reported.
Shawn Carter and Jay Brown's VC fund do not yet have a fund size target at the moment.