Jay Z launches Arrive to deposit in startups

Shawn Carter, best famous as Jay Z, is diving deeper into try capital.

The rapper-entrepreneur is an financier in Uber, among other startups, though now he’s formalizing his financier efforts: Roc Nation, Carter’s party firm, is rising a new business arm called Arrive.

Arrive will flow collateral into immature startups, as good as advise them on code and business development. (Perhaps it will use JetSmarter, another Carter-backed startup, as a box investigate in how not to representation a press.)

The new business section is a collaborative bid with seed theatre try organisation Primary Venture Partners (whose portfolio of investments includes startups Jet, Maple and Ollie) and GlassBridge Asset Management, a association pronounced in a matter Monday.

It’s misleading how many companies Arrive will deposit in — and how how most income it will bombard out.

But a devise is to go big, according to a announcement: The association “anticipates a launch of a normal try account in sequence to, among other activities, support existent portfolio companies by their successive expansion stages.”

Roc Nation did not immediately respond to CNNTech’s ask for comment.

Carter has firsthand knowledge flourishing a tech startup: He launched song streaming use Tidal in 2015 after shopping Swedish tech association Aspiro. In January, Sprint bought 33% of a association for $200 million.

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