Rap mogul Sean “Jay Z” Carter announced this week that his entertainment company Roc Nation will move into venture capital with Arrive, a new platform to spur growth among startups.
The new platform, called ARRIVE, will “partner with a select group of early stage start-ups by providing them with brand services, business development, advisory and capital to drive growth in their organizations,” according to a press release.
“ARRIVE was created to leverage our experience and resources in building brands, developing consumer facing businesses, managing artists and representing athletes. We’ve opened that diversified, global range of expertise to a new vertical: entrepreneurs and their early stage businesses” said Neil Sirni, Head of New Ventures at Roc Nation.
Primary Venture Partners co-founder and General Partner, Ben Sun, said, “What Roc Nation has built so far is a true testament to their vision, capabilities and willingness to dig in and take their companies to the next level. We are thrilled to partner with the amazing team at ARRIVE and to leverage these unique resources to build the next generation of powerful brands.”
In addition to ARRIVE, Roc Nation intends to formalize its focus on social impact investing later in 2017, according to the press release.