Jay Z is not a businessman, he’s a business, man. For his next non-music endeavor, Hov is set to launch a venture capital fund.
According to Axios, the Brooklyn mogul is launching the venture capital fund with business partner and Roc Nation president Jay Brown. Reportedly, Jay Z and Brown are teaming up with Sherpa Capital for the VC launch. And, as Sherpa will not be leading investments, Hov and Brown are still looking for a third, full-time investment partner.
The venture capital fund will likely focus on seed-stage opportunities.” The launch is intended to build on Jay Z and Brown’s previous joint investments, including their involvement with Uber’s Series B. The Blueprint rapper has also invested in several other companies, including JetSmarter, and of course, he’s the co-owner of TIDAL.
Congratulations to the two Jays on their continued success. In music-related news, Hov recently teamed up with DJ Khaled and Beyoncé for the new song Shining.” The new record is sure to be a radio hit, and expect to hear the song played throughout the summer months.
In case you missed, it Jay and Bey showed out at the 2017 NBA All-Star Game and brought along their daughter, Blue Ivy. The game went down on Sun., Feb. 19 at the Smoothie King Center in New Orleans, with the Western Conference All-Stars taking down the Eastern Conference All-Stars 192-182. Anthony Davis earned MVP honors with an All-Star record 52 points.