Jay Z Is Reportedly Starting a Venture Capital Fund

According to a report from Axios, Jay Z is preparing to launch his own venture capital fund. One of his partners will be Jay Brown, a longtime business partner and president of Roc Nation.

via Axios:

The pair also is scouring the venture market for a full-time investment partner. The “Jays” also are partnering with Sherpa Capital, although this won’t be a Sherpa-branded effort, and existing Sherpa staff won’t be leading investments.

Expect the focus to be on seed-stage tech opportunities, with this really being the institutionalization of Jay Z and Jay Brown’s previous angel investing activities. For example, they both were in Uber’s Series B, at a $300m pre-money. Other investments have included JetSmarter, plus his involvement and stake in music streaming service Tidal.

No word yet on fund size target, nor any comment from those involved (due to regulatory restrictions).

Get to that money, Jay!

Note: We’re seeing way too many comments from people who don’t quite know what a ‘venture capital’ fund is. ‘Venture capital’ is defined as “capital invested in a project in which there is a substantial element of risk, typically a new or expanding business.”