Hip-Hop mogul Jay Z is launching a new business venture to support innovative start-up companies.
The “Empire State of Mind” hitmaker was recently reported to be founding his own venture capital firm.
Arrive, a collaboration with bosses at Primary Venture Partners and Glassbridge Asset Management, will operate under the umbrella of Jay Z’s Roc Nation brand.
Neil Sirni, Roc Nation’s head of new ventures, explains:
“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.”
Arrive bosses will help develop existing portfolio firms and provide them with institutional and operational support, reports Billboard.com.