LOS ANGELES (CelebrityAccess) — Jay Z's Roc Nation has announced the launched of Arrive, a new venture capital company aimed at early-stage startups.
ARRIVE was formed through a collaboration with Primary Venture Partners and GlassBridge Asset Management and will provide select startups with brand services, business development, advisory and capital.
"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" said Neil Sirni, Head of New Ventures at Roc Nation.
The new fund did not provide any details about their planned launch date, or how much capital they had to invest out of the gate.
Primary Venture has invested seed money in Jet.com, Ticketfly, TxVia and Coupang in addition to promising startups in the portfolio including Slice, Maple, Ollie, Latch and Healthify while Glassbridge has focused on the technology sectory, particularly data storage. – Staff Writers