Jay Z Set to Launch Venture Capital Fund
According to Axios, the Brooklyn mogul is launching the venture capital fund with business partner and Roc Nation president Jay Brown. Jay Z and Brown are reportedly 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.
Jay's former rival Nas launched his own VC firm QueensBridge Venture Partners years ago. Esco has invested in companies like Lyft, Dropbox and Tradesy in early stages.
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.
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