Jay Z‘s growing business ventures continue. The 47-year-old rapper/music mogul’s Roc Nation is launching a new business line called Arrive.
Arrive will reportedly pour capital into young startups, as well as advise them on brand and business development. The company shared in a statement that it is a collaborative effort with seed stage venture firm Primary Venture Partners and GlassBridge Asset Management. The company anticipates the launch of a traditional venture fund in order to, among other activities, support existing portfolio companies through their subsequent growth stages.
Jay Z is an investor in a number of startups including Uber. In 2015, he launched music streaming service Tidal after buying Swedish tech company Aspiro.