Jay Z’s latest mogul move is starting a venture capital fund, business publication Axios reports.
Hov is teaming up with Roc Nation‘s president, Jay Brown, for the latest endeavor.
The pair is reportedly seeking a full-time investment partner and will be working loosely with San Francisco-based Sherpa Capital, which specializes in backing upstart technology companies.
Jay Z is no stranger to investing in technology as he owns a share of streaming service TIDAL and he helped fund JetSmarter, a company that is being called the “Uber for private jets.”
Jay has been flexing his mogul muscles recently, signing a film and TV deal last September that will see him bring the Kalief Browder story to the screen.
He’s also rumored to be working on a new album and his wife Beyoncé is pregnant with twins.
Can’t wait for the album
Jay Z stay winning.
“Jay Z is no stranger to investing in technology as he owns a share of streaming service TIDAL” – Look what happened to that.
What happened to it? Just because you and whoever else don’t like it doesn’t mean it’s doing bad or failing. Shit’s cool to me. Like the exclusive shit.
I think what he means is the fact that Hov’s investment into TIDAL did not go as planned and is on the brink of failure, and that he should give second-thought to the investment.
HOV investing Live Nations money into Tidal probably wasn’t a good deal when you look at it rationally. To get those artists music on Tidal he had to the “artist owned” thing which means the money get split so much that Jay Z will be lucky to see a nickel.
I realize you guys have no clue wtf is going on. When u sell 1/3 of a company for 4 times what you bought the entire company for, that’s called winning. You guys might want to read a business book or two.
LMFAO NIGGA OUT HERE BITING NAS!
Biting Nas? WTH does that mean? His bankroll is way bigger which means that his VC will have a far greater reach. Anyone can decide to invest so there’s no biting. If that’s the case Nas is biting Carmelo lol and Carmelo is biting Troy Carter and Troy carter is biting JP Morgan. Shut up idiot
Who’s bankroll is bigger? Just cause Jay Z fortune is valued more than Nas it doesn’t mean his VC will have access to any of those funds/assets. The VC could be structured in such a way where Jay Z is just a figurehead and has no assets or money in the venture. Kinda of like the Brooklyn Nets or his Live/ROC Nation deal.
Waiting for” F Queens Bridge” to make a dumb comment
He’s trying to reach that billi
Tidal is shit that’s why Apple Music & Spotify don’t want to by it. He’s going to lose his ass on it!
You know he just sold 33% of the company for $200m right and you know he bought 100% of the company for $56m right? You do the math and try not to sound so stupid next time…