Rap and business mogul Sean “JayZ” Carter has launched a new venture capital firm called Arrive and according to reports and a press release from Roc Nation the new investment company will work with new early-stage startup companies. They plan to offer capital investment as well as business development assistance to help with branding and other business needs.
Via Tech Crunch:
Arrive’s unique sales pitch to potential investment targets revolves heavily around its experience in brand building — 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. It’s 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 doesn’t yet control a fund — the press release suggests it’s 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.
Read the press release here.