Roc Nation, JAY-Z’s full-service entertainment management company, is making an investment in Robinhood.
According to Tech Crunch, Robinhood is a financial trading platform, and is JAY-Z’s investment serves as the most recent instance of a celebrity rapper investing in the free-to-trade platform.
Snoop Dogg and Nas previously invested in Robinhood as big-time backers. The investment will take place through Roc Nation’s subsidiary, Arrive, and will be the company’s third investment into a high-growth startup tech company.
“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 in a statement at the time of the company’s launch.
Arrive launched last year. It was created to connect and partner with early-stage startups and provide them with services needed for their brand to succeed. Development, advisory and capital services meant to increase growth are all offered as part of the partnership.
Robinhood is valued at roughly 1.3 billion. It is based in San Francisco.