Shawn Carter, best known as Jay Z, is diving deeper into venture capital.
The rapper-entrepreneur is an investor in Uber, among other startups, but now he's formalizing his investor efforts: Roc Nation, Carter's entertainment firm, is launching a new business arm called Arrive.
Arrive will pour capital into young startups, as well as advise them on brand and business development. (Perhaps it will use JetSmarter, another Carter-backed startup, as a case study in how not to pitch the press.)
The new business unit is a collaborative effort with seed stage venture firm Primary Venture Partners (whose portfolio of investments includes startups Jet, Maple and Ollie) and GlassBridge Asset Management, the company said in a statement Monday.
It's unclear how many companies Arrive will invest in -- and how how much money it will shell out.
But the plan is to go big, according to the announcement: The company "anticipates the launch of a traditional venture fund in order to, among other activities, support existing portfolio companies through their subsequent growth stages."
Carter has firsthand experience growing a tech startup: He launched music streaming service Tidal in 2015 after buying Swedish tech company Aspiro. In January, Sprint bought 33% of the company for $200 million.