Jay Z has long been a player. In this case, we don't mean cheating on Beyonce. We are referring to his early stage investments in everything from Uber to JetSmarter. Now, he's working to formalize his activities as a VC by launching his own new fund.
Jay Z is launching a new venture capital fund, according to multiple reports.
Along with his longtime business partner and president of Roc Nation Jay Brown, Jay Z is out looking for other investors or a major firm to join in. Aiding in their efforts is Sherpa Capital, according to Dan Primack of Axios.
How Does Jay Z Score As An Investor?
"Overall Jay Z and Roc Nation have managed to pick some promising startups that have gone on to raise a ton more money. That makes him a successful VC on paper, but he’ll need some big IPOs or acquisitions to lock in his earnings," reports TechCrunch. "The majority of venture capital gains come from a tiny set of startups that grow huge. If Jay Z’s upcoming fund can leverage his branding expertise, promotional influence, and the desire of founders to buddy up with the star, it might be able to get a piece of these future blockbusters."