Jay Z is starting a venture capital fund, sources tell Axios. The rapper and business mogul is said to be teaming with Jay Brown, who currently serves as the president of Roc Nation for his latest venture.
Hov and Brown are searching for a full-time investment partner at the time being, and will also be working with Sherpa Capital. Axios suggests that the VC will focus on "seed-stage tech opportunities." This follows the rapper's investment in JetSmarter, a service described as "Uber for private jets."
Jay Z is currently a co-owner of Tidal, and recently released his "Shining" single with DJ Khaled and Beyoncé through the service. He has been spotted in the studio with Zaytoven recently and is rumored to be working on a new album for release later this year.