Some rappers start clothing lines. Others start venture capital funds. Rapper Jay-Z is putting his money to work in start-up and technology investing, Axios reported on Tuesday.
Unnamed sources told Axios that Jay-Z (Shawn Carter) will partner with venture capital firm Sherpa Capital, which has invested in companies like Uber, Airbnb, and Slack. The 99 Problems MC is no stranger to the business world. Jay-Z’s entertainment company, Roc Nation, has made some investments in tech startups such as private-jet rental company BlackJet and French audio equipment company Devialet, according to Crunchbase.
Jay-Z will partner with Roc Nation president Jay Brown for the new fund, the report says. On top of Roc Nation, Carter has invested in Uber and music streaming service Tidal. By setting up a firm, Carter joins a growing crowd of celebrities that are bringing their brand to the tech world. Kobe Bryant, Lupe Fiasco, Robert Downey Jr., and Justin Bieber have also done technology deals.