Jay Z’s GOAT status has officially entered another dimension. On the heels of announcing the launch of his own venture capital firm, this past Monday Roc Nation released a statement outlining the details of their newest start-up platform, ARRIVE.
“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" said Neil Sirni, Head of New Ventures at Roc Nation.
Formed in collaboration with Primary Venture Partners and GlassBridge Asset Management, ARRIVE plans to eventually extend their reach as a more traditional venture fund, supporting existing portfolio companies.
"What Roc Nation has built so far is a true testament to their vision, capabilities, and willingness to dig in and take their companies to the next level. We are thrilled to partner with the amazing team at ARRIVE and to leverage these unique resources to build the next generation of powerful brands," said Ben Sun, co-founder of Primary Venture Partners.
This venture is another in a streak of major moves made by rapper and music mogul, Shawn "JAY Z" Carter. In addition to being co-owner of the music-streaming service, Tidal, he invested in three other startups: the high-tech-luggage maker Away, the nail parlor company Julep and the private-jet startup JetSmarter – and he shows no signs of slowing down. Roc Nation will be firming up a plan for social impact investing later this year. FLOURISH!