Rapper and Businessman Shawn Carter, commonly known as Jay Z is reportedly launching a venture Capital fund along with his long-time business partner Jay Brown, the president of Roc Nation.
According to Axios, the two will be teaming up with San Francisco-based venture capital firm Sherpa Capital with a focus of investing in seed-stage tech companies.
Jay Z is not new in the business of investing in private companies. In 2015, he bought a music streaming company, Tidal for about $56 million and just last month, he sold 33% of it to Sprint Corp for $200 million, hence valuing the company at $600 million.
Jay Z bought Tidal for $56 million and sold 33% of it to Sprint Corp for $200 million. https://t.co/eUNW5jM0BK
— Kenyanwallstreet (@kenyanwalstreet) January 23, 2017
He was also an early stage investor in Uber itself when he participated in a $360 million Series C funding round for Uber. He also participated in $30 million round for the e-commerce beauty brand Julep.
