Jay Z is one of the most influential personalities in the music industry. His multiple properties and businesses are proof of his success. Tons of people, including his fans and colleagues look up to him for his achievements. More people may adore him now that he has recently launched a new project with a good cause. His new venture capital firm Arrive, has a goal to support startups flourish.
There had been rumors about this new capital firm, but it was only during a recent press release from parent company Roc Nation made the news official. Basically, what the firm will do is provide the businesses with brand services, business development, advisory and capital to drive growth in their organizations.
Building Brands with Arrive
“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, Head of New Ventures at Roc Nation.
Jay Z’s Arrive promises to help the startups thrive. Selected companies will receive assistance mostly on branding and development. One of its unique tasks is to help build starting artists and athletes.
Primary Venture Partners co-founder and General Partner, Ben Sun, said, “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.”
According to Billboard.com, Arrive will as well develop existing portfolio firms of the chosen startups, and provide them with institutional and operational support.
Roc Nation: Thriving in the Entertainment Business
The parent firm, Roc Nation worked with Primary Venture Partners (“Primary”) and GlassBridge Asset Management (“GlassBridge”) for the creation of Arrive. Reports say, Primary play a role on venture advisor and GlassBridge, a subsidiary of GlassBridge Enterprises Corp. (GLA), will provide institutional and operational support.
“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,” says Primary Venture Partners co-founder Ben Sun. “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.”
Roc Nation was founded in 2008. Since then, it has become of the world’s most thriving companies in the entertainment business. They are behind the success of several recording artists, producers and athletes. Some of their most prominent clients are familiar names such as Rihanna, Shakira, J. Cole, and Big Sean to Yoenis Cespedes, Kevin Durant, Dez Bryant, and Robinson Cano. According to Roc Nation, they are “a full service organization, supporting our diverse roster of talent via artist management, music publishing, touring, production, strategic brand development and beyond. We’ve forged strong partnerships with the world’s leading experts in management, technology, fashion, and philanthropy, and are redefining the business of entertainment.”
Primary Ventures Seeds Startups
New York based venture firm, Primary Venture Partners, on the other hand, serves as a seed-stage of transformative startups. The company is mainly managed by co-founders and general partners, Ben Sun and Brad Svrluga. One of its roles is to serve as the first call included in the portfolio of companies. Primary also dedicates significant resources to best position its companies for the journey from Seed to Series A and beyond. Primary has been a part of the success of Jet.com, Ticketfly, TxVia and Coupang as well the captivating start up portfolios of Slice, Maple, Ollie, Latch and Healthify.
Formerly known as Imation Corp., GlassBridge Enterprises, Inc. (GLA), experiments on new, strategic asset management business opportunities. As part of their portfolio, they explore the mentioned field as a holding company. Its main subsidiary, GlassBridge Asset Management, LLC, works as an investment advisor that focuses on technology-driven and quantitative strategies. While its partially-owned subsidiary, Nexsan Corporation, is a global group for data storage.
Jay Z has been to be an active investor of many businesses. Aside from Roc Nation and Arrive, his investments include Stance, and high-tech luggage maker Away, nail parlor company Julep, and private-jet firm JetSmarter. Called by his parents Shawn Carter, Jay Z is also the co-owner of the music streaming service Tidal.
He also invested in Uber’s Series B. It was in 2011 when he joined the massive global company where he financed around $300 million. Now it is believed to be around $62.5 billion worth, clearly showing that Carter is winning.
Jay Z and Roc Nation are the ones who will pick the promising startups which will receive assistance through Arrive. The future blockbusters will be provided help for branding expertise, promotional influence, and referral of potential founders for tie ups. With this new firm, the future is bright for startup businesses and aspiring prominent personalities.