Jay Z released a press release announcing the new venture capital firm, Arrive.
Arrive will focus particularly on brand building, with the claim that Jay Z and Roc Nation have a solid background in building up brands, something that consumer-focused companies will be able to leverage for their own startups.
Roc Nation is working with Primary Venture Partners and GlassBridge Asset Management. Primary will be working on the investment side of things, while GlassBridge will offer support for business infrastructure.
Although Arrive does not yet control a fund, the press release suggests that it will and that it hopes to build up a fund not only for existing companies but new ones as well.