US rapper and business mogul Jay-Z has arrived on the venture capital scene with Arrive.
News of the rapper-founded venture capital firm first surfaced in February and just confirmed yesterday by a press statement from the parent company Roc Nation. The firm is looking for early-stage startups and will offer capital investment and professional help with business development, branding, and anything else need to make them successful.
Arrive key sales pitch to startups looking for VCs is its heavy machinery and experience in brand building. It set itself apart from other VCs from just the virtue it has a more exposure to the task of building a brand from the ground given the parent company dealing with artists and even athletes.
Arrive is hoping on leveraging in on that experience and offer bidding startup business something different from the current VCs in the market. Something that they hope would be more appealing to the startups.
Roc Nation has partnered with Primary Venture Partners and GlassBridge Asset Management in making Arrive arrive at the VC scene. Primary will be the advisor to the VC firm and guide it in its investment options, while GlassBridge will offer business infrastructure support.
As of now, Arrive is yet to arrive at controlling any funds; the press statement disclosed that, and went further to state the firm is aiming at building a resource to be put in both existing portfolio companies as well as investing in new ones.
Jay-Z in a seasoned venture capitalist, who invest both independently and through Roc Nation. Already he has renowned companies like Uber, and Stance among other under his portfolio.