Jay Z’s continues to build upon his business profolio with the announcement of his new venture capital firm Arrive. This is a completely different business venture from the one that surfaced back in February. According to Tech Crunch Arrive will serve as a investment platform that will work with early-stage startups, and offer investment of capital as well as assistance with business development, branding and more to help those select companies flourish, per the official announcement.
“Arrive’s unique sales pitch to potential investment targets revolves heavily around its experience in brand building — the company is unique among VC firms in terms of its exposure to the task of managing and building up artists, as well as athletes. It’s hoping to leverage that experience into something a bit different from the status quo in venture capital, according to the release, which could be a very appealing edge indeed to consumer-focused startups looking to accelerate their growth.
Roc Nation is working with Primary Venture Partners and GlassBridge Asset Management to form the new firm, with Primary acting as a venture advisor to guide investment, and GlassBridge offering business infrastructure support.”
Arrive itself doesn’t yet control a fund — the press release suggests it’s in the plan, however, with the aim of building a resource that can be put into both existing portfolio companies and investing in new ones. Jay Z has already invested in a number of startups, both independently and via Roc Nation, including Stance, Uber and more.