JAY Z just launched his new venture capital firm, Arrive. On Monday, Roc Nation released a press release indicating that the investment platform will work with early-stage startups as well as offer investment of capital and assistance with business development, branding and more. Roc Nation’s Head of Ventures Neil Sirni reveals: “Arrive was created to leverage our experience and resources in building brands, developing consumer facing businesses, managing artists and representing athletes.”
The press release also reveals that Roc Nation will “focus on social impact investing,” which will start later this year. Roc Nation is working with Primary Venture Partners and GlassBridge Asset Management to form the new firm. Dan Primack revealed to Tech Crunch that Arrive is a separate endeavor from JAY Z’s VC fund, and that the fund is still in operation. Jigga has already invested in a few startups (both independently and via Roc Nation), including Uber, Stance and others.