GET YOUR business plans ready! Jay Z has announced he is to launch a company that will support innovative start-ups.
The hip-hop mogul, who recently made history by becoming the first rapper inductee in the 2017 Songwriters Hall of Fame, announced new venture, Arrive, today (March 8).
Arrive, a collaboration with bosses at Primary Venture Partners and Glassbridge Asset Management, will operate under the umbrella of Jay Z’s Roc Nation brand.
The company will be focused on building and supporting startup companies while guiding investments, infrastructure support, and branding skills.
Neil Sirni, Roc Nation’s head of new ventures, said: “Arrive was created to leverage our experience and resources in building brands, developing consumer facing businesses, managing artists and representing athletes. We’ve opened that diversified, global range of expertise to a new vertical: entrepreneurs and their early stage businesses.”
Arrive bosses will help develop existing portfolio firms and provide them with institutional and operational support, reports Billboard.com.
Also stated in the press release were Roc Nation’s intentions to “formalise its focus on social impact investing later in 2017.”