Jay Z’s Roc Nation is launching a new startup called Arrive. The new division in Hov’s company will focus on nurturing other promising startups.
It’s another business move in building Jay’s empire. While Roc Nation started off as a label, it expanded into streaming with Tidal and athlete management with Roc Nation Sports. Now with Arrive, Hov is moving into venture capital. A partnership between Roc Nation, Primary Venture Partners and GlassBridge Asset Management, Arrive will offer "brand services, business development, advisory and capital to drive growth in their organizations."
"Arrive was created to leverage our experience and resources in building brands, developing consumer-facing businesses, managing artists and representing athletes," Roc Nation's Head of New Ventures Neil Sirni said in a statement. "We've opened that diversified, global range of expertise to a new vertical: entrepreneurs and their early stage businesses."
"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," Primary co-founder Ben Sun said in a statement. "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."