Jay-Z: Gifted in Both Rapping and Investments.
By Susan Johnes
The rapper-turned-mogul Jay-Z has launched a new venture capital in Sherpa. Carter has invested in Uber, and currently, he is on the way to familiarize himself with Roc Nation, which was previously his entertainment vehicle.
Roc Nation is in the works of launching a new arm known as “Arrive,” which will fund capital to young start-ups as well as offer some advice about the brand and the expansion of the business.
Sherpa Capital has invested in a wide range of companies such as Uber, Airbnb, and Slack, with its primary focus being to support the existing portfolio companies.
We can remember that Jay-Z has previously served as an angel investor for some time. Therefore, he has enough experience in the business environment.
Keep in mind that the famous rapper has experienced outstanding success and rewards with his clear history of tech investments. In 2011, he participated in Uber’s Series B fund which saw the company experiencing growth from $300 million to $63 billion.
In 2015, he purchased a music streaming service called Tidal at $56 million. Sources close to the company says that it is experiencing competition from its close rivals, Sprint and Spotify. Jay-Z’s involvement in Tidal gives him a good payday as well as keeping him busy.
Surprisingly, a few years back, the rapper hardly had the idea of participation in tech investments. So far, the high-profile celebrity has invested in more than 40 startups. Among the sectors ventured in are financial technology, healthcare, and music production.
He has teamed up with famous people in the investment tech industry such as Stuart Goldfarb and NBA star Carmelo in Melo7 Tech Partners and QueenBridge Venture Partners, respectively.
Since he has no other jobs apart from rapping, the celebrity has decided to venture into a full-time partnership with plans to strengthen his music industry. His efforts have borne fruits with landing the most lucrative and competitive start-ups investment deals. Below is a close look at Jay-Z’s past investment.
He invested in Stance’s Series A in 2011 at $6 million which has gained more than $110 million, and in Uber Series B at $300 million among others.
His latest tech investments in 2016 are the Uber for private planes series C estimated at $105 million, and the Devialet startups.
In general, he has raised a ton of money in the tech venture with mysterious capital gains. Jay-Z’s upcoming fund drive has promoted and influenced the branding of his ventures.