Jay Z Set to Launch Venture Capital Fund in Technology
Jay Z is ready to conquer the tech world.
The 47-year-old hip hop mogul and his longtime business partner, Jay Brown, are launching a new venture capital fund, according to a new report from Axios.
The duo plan on focusing on tech startups. Not surprising considering Jay Z has made several high-profile seed investments in technology startups through Roc Nation over the last few years, including an early 2011 investment in Uber. The partners are currently seeking a full-time venture partner, according to the report.
While Jay has his hands on several other investments including JetSmarter, described as Uber for private planes; high-end speaker company Devialet; and of course the music streaming company TIDAL. He recently sold a 33 percent stake of the company to Sprint for a reported $200 million, nearly two years after purchasing the company for $56 million. His various business ventures and being one of the most successful hip hop artists in the world catapulted Jay to third on the 2016 Forbes list.
Aside from making moves in the business world, the mogul and his wife, Beyonce, are expecting twins later this year. The two also collaborated for “Shining,” the lead single from DJ Khaled’s upcoming album Grateful.
