Now here’s something to rap about. Giving new meaning to the word hustle, Jay Z’s latest move may not break the Internet—like the announcement that he and wife, Beyonce are expecting twins—but it will shake a few banks.
According to Axios, the rapper and entrepreneur is planning to launch a venture capital fund with his longtime business partner and president of Roc Nation, Jay Brown. While limited details are currently available, reports indicate the new company is currently looking for additional investment partners and have already aligned with San Francisco-based venture capital firm, Sherpa Capital.
Venture capitalists identify and invest in promising businesses—and Jay-Z definitely knows a thing or two about what’s hot. Over the last decade his biz holdings have increased exponentially as his brand has taken stake in companies such as Tidal, Roc Nation and Uber.