Jay Z is Launching His Own Venture Capital Fund

Shawn

Labeled the "Uber for private jets", Jay Z joined members of the royal Saudi family in helping the startup raise more than $105 million in Series C funding just a year ago.

Axios reports the rapper/business...man, is launching a venture capitalist firm with his Roc Nation partner Jay Brown.

Snoop Dogg is said to have put his money in several weed endeavours which include Merry Jane, LeafsBySnoop, FunkSac and Eaze, while Will Smith invested in mental health start-up called BioBeats. Fortunately, this gives us a decent comparison point for the obvious question: Could this fancy-sounding venture capital fund actually have legs?

The endeavor is a partnership with entrepreneurs Shervin Pishevar and Scott Stanford's San Francisco-based Sherpa Capital and is now in need of an another partner. However, Sherpa Capital staff won't lead the investments.

Music and business mogul Jay Z is about to expand his assets even further.

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Due to regulatory restrictions, parties involved with the new VC fund have not commented on the story as it stands today (February 22).

The businessmen are expected to focus on seed-stage funding of tech startups, which is similar to what they have been doing for about five years as angel investors.

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