Everyone knows that Jay Z isn’t just a businessman, he’s a business, man, and these days business is looking better than ever. First he took over the music world with Roc-A-Fella, Def Jam and eventually Tidal. Then he launched into fashion with Rocawear. After that came the sports management division of Roc Nation which represents major stars like Dez Bryant, Robinson Cano and Kevin Durant. More recently he dipped his toes into the world of film, signing on as a producer for Lin-Manuel Miranda’s In The Heights. Now, he’s now decided to try his hand at high finance, announcing the creation of a brand new venture capital firm named Arrive.
In a statement given to Yahoo, the Head of New Ventures at Roc Nation, Neil Sirni laid out the vision for the company. “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.”
Arrive was created in collaboration with two other entities, Primary Venture Partners and GlassBridge Asset Management. Ben Sun, the co-founder of Primary laid out the reasons why he was excited to parter with Jay’s company. “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.”
So, what’s the lesson in all of this? Keep your portfolio extremely diversified.