Jay Z launches Arrive to fund startups, offer branding support and more (2288 hits)
Jay Zís new venture capital firm Arrive, has arrived ó the rap and business mogul has been planning the launch for a while, according to reports that surfaced in February, but a press release from parent company Roc Nation made it official on Monday. The investment platform 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.
Arriveís unique sales pitch to potential investment targets revolves heavily around its experience in brand building ó 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. Itís 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 doesnít yet control a fund ó the press release suggests itís 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.
Edit: Dan Primack, who first reported the existence of Jay Zís VC fund, says that Arrive is a separate endeavor and that fund is still its own thing.