Best Startups 2017: Jay Z Launches 'Arrive' To Help Fund Startups

Rapper-Entreprenuer Shawn Corey Carter, known professionally as Jay Z, who is also an investor in Uber, among other startups, had been planning the launch for a new venture, which has officially been announced Monday. Roc Nation, an American entertainment company founded by Jay Z and Jay Brown in 2008, had announced Monday about the launch of it new venture firm 'Arrive' that will fund young startups and advise them on brand and business development, reports PR Newswire.

"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.

Arrive has been formed in collaboration with Primary Venture Partners and GlassBridge Asset Management where the former will be the venture advisor and GlassBridge, a subsidiary of GlassBridge Enterprises Corp., will provide institutional and operational support to Arrive.

Though it remains unclear in how many companies will Arrive invest in but according to the announcement, 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."

Arrive doesn't have a fund yet but Roc Nation is working to get funds for the VC firm. Once funds are put together, Arrive will start investing in new companies and the previosuly backed companies by JayZ through Roc Nation, reported several media publications.

Startups have been the most hotly-discussed topic in 2016. As per data crunching firm Quid, investors had specific interests in certain emerging sectors. Online security, fraud detection and artificial intelligence startups raised more than others in the past few months on Quid’s list, Bloomberg reported Monday.

According to Forbes report in January, 2017 is about to see a lot more IPO activity. Tech startups will see lot more investors this year, the report said.

Jay Z, who has vast experience in growing tech startups is known for his multiple successful business interests — from streaming music service Tidal, the 40/40 Club chain of lounges, ownership in several sports teams to the Rocawear clothing line. He had launched Tidal in 2015 which, as he said, was a platform that’s owned by artists, reported the New York Times.

The Brooklyn-born rapper was placed third in last year's Forbes Five, which is a ranking of the world’s wealthiest hip-hop artists, according to a May 31st issue of Forbes. His estimated net worth is $610 million.