Jay Z’s Roc Nation has announced an innovative new platform, ARRIVE, that will partner with a select group of early stage start-ups by providing them with brand services, business development, advisory and capital to drive growth in their organizations.
Neil Sirni, Head of New Ventures at Roc Nation, spoke of the new venture capital firm, stating,
“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 also anticipates the launch of a traditional venture fund in order to, among other activities, support existing portfolio companies through their subsequent growth stages.
ARRIVE was formed through a collaboration with Primary Venture Partners (“Primary”) and GlassBridge Asset Management (“GlassBridge”). Primary will serve as a venture advisor and GlassBridge, a subsidiary of GlassBridge Enterprises Corp. (GLA), will provide institutional and operational support.
Primary Venture Partners co-founder and General Partner, Ben Sun, added,
“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.”
In addition to ARRIVE, Roc Nation intends to formalize its focus on social impact investing later in 2017. Separately, Roc Nation and its principals continue to strengthen various partnerships to expand its presence in the high growth, early stage community.
Looks like Jay Z has that goal to become a billionaire right in his cross hairs.
