Jay Z has bolstered his Roc Nation empire with a new start-up that helps other start-ups. According to a release on Monday (March 6), the hip-hop mogul announced the creation of Arrive, a platform that will focus on promising start-up companies.
"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, Roc Nation's head of new ventures.
Through a collaboration with Roc Nation, Primary Venture Partners and Glassbridge Asset Management, Arrive will aid existing portfolio companies through their developmental stages. While teaming up with Glassbridge, Arrive will also provide institutional and operational support.
Primary Venture Partners co-founder Ben Sun also expressed his excitement regarding the new partnership with Roc Nation. "What Roc Nation has built so far is a true testament to their vision, capabilities and willingness to dig in and take their companies to the next level. We are thrilled to partner with the amazing team at Arrive and to leverage these unique resources to build the next generation of powerful brands."
For Jay Z, his affinity for start-up companies has been well-documented. According to Business Insider, his portfolio consists of luggage company Away, nail parlor company Julep, and the private-jet startup JetSmarter.