Rapper and business mogul Jay Z is in the process of raising a venture fund that will focus on making seed investments in tech startups, according to Axios. One partner will be Jay Brown, the CEO of Jay Z-founded entertainment company Roc Nation, but the duo is actively searching for a full-time investment partner, per the report. Sherpa Capital will reportedly play some role in the venture, but the firm’s staff won’t handle the investing.
Jay Z is no stranger to the startup world, having previously backed companies such as JetSmarter, an on-demand private jet company recently valued at $1.6 billion with a $105 million Series C. He’s also far from the only rapper to venture into the VC industry.
Check out our previous article highlighting 11 rappers who moved from writing rhymes to writing checks.
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Article by PitchBook