Jay Z announces plans to launch a VC fund
Rapper, who has previously invested in Uber, is expected to make seed stage investments in early stage tech firms
Jay Z, one of the world’s most famous rappers, has announced plans to launch a venture capital fund, according to technology publication Axios.
Started with Jay Brown – co-founder of Jay Z’s entertainment company Roc Nation – the fund will partner with Sherpa Capital but operate under its own brand.
No details have yet been disclosed on the fund size target due to regulatory restrictions, but it is expected to focus on making seed investments into early-stage tech companies.
The founders are said to be in the process of looking for a full-time venture partner to lead the fund.
The rapper has previously invested in Uber’s 2011 Series B funding round through Roc Nation, as well as premium stock company Stance’s 2011 Series A.
Last year, he participated in French speaker maker Devialet’s €100M Series C, so he’s familiar with investing in European start-ups – a sign that UK companies are likely to benefit from his multi-million pound fortune.