Jay Z will now have something in common with Justin Bieber, Kobe Bryant, and Lupe Fiasco…he is taking his talents to the tech world!
It is reported that Jay Z is teaming up with Roc Nation president Jay Brown to launch a venture capital fund. Both actively looking for a full-time partner but it was reported that Sherpa Capital, who has invested in Uber, Airbnb and other companies, will also be helping with the new business move.
via Axios:
Expect the focus to be on seed-stage tech opportunities, with this really being the institutionalization of Jay Z and Jay Brown’s previous angel investing activities. For example, they both were in Uber’s Series B, at a $300m pre-money. Other investments have included JetSmarter, plus his involvement and stake in music streaming service Tidal.
No word yet on fund size target, nor any comment from those involved (due to regulatory restrictions).
Jay, whose wife Beyonce recently announced her pregnancy, is currently also working on bringing the story of Kalief Browder to the big screen.
Talk about winning! Let’s chat below!
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Source: https://www.axios.com/jay-z-is-launching-a-vc-fund-2276155599.html
