Celebrity Cyber Report – JayZ, Kevin Durant
Rapper/entreprenuer/business mogul JayZ is launching a venture capital fund. The brother has the Midas touch and knows how to use it. In 2011 the husband of Beyonce invested in Uber and that blew up. The ride company is worth 200 times what was when he invested. He launched RocaWear. BOOM! That blew up. He purchased Tidal and jumped into the streaming media game. He is also invested in several alcohol beverage brands. Put simply this black man knows where to put money to make money.
JayZ and longtime friend and business partner and RocNation co-founder Jay Brown are hooking up withPrimary Venture Partners and GlassBridge Asset Management to form the new firm, Arrive. Primary acting as advisor to guide JayZ’s investments, and GlassBridge will provide business infrastructure support. JayZ is currently looking for the right mind to lead the fund.
JayZ and RocNation have an impressive track record when it come to investing. Check it out.
- Stance – The Jays’ Roc Nation invested $6 million in the premium sock company Stance. It’s gone on to raise a total of $116 million from top Silicon Valley investors.
- Uber – Jay Z invested when the company was valued at just $300 million. Now Uber is valued at $62.5 billion.
- JetSmarter – JayZ personally invested in JetSmarter’s in 2014 and 2016. The “Uber for private jets” startup is hoping people will pay huge upfront membership fees for free luxury flights later.
- Devialet – RocNation’s most recent investments is with high-end french speaker maker Devialet. It’s too early to tell but Devialet speakers get rave reviews and are sold at Apple stores.
But not all has been rosy for the rapper. Investing is a gamble and sometime you lose. JayZ dropped money on Viddy/Supernova an “Instagram for video” concept in 2012 before Instagram became the Instagram for video. The company failed, was re-branded as Supernova, and was sold. No profit there. RocNation invested in BlackJet a private jet startup in 2012. BlackJet crashed taking JayZ’s money with it.
JayZ and RocNation are expected to focus on seed-stage funding of tech startups.
Last summer the Golden Sate Warriors landed the most sought after NBA baller, probably in the history of the game, Kevin Durant. The Golden State is the home of Silicon Valley, the home of high tech gold. Making himself at home Durant and his agent Richard Kleiman unveiled a start-up of their own, the Durant Company, with an expanding portfolio of investments in tech companies like Postmates and Acorns. The portfolio also holds investments in hotels, restaurants, film and television development. Durant is also investing with Ronald Conway, one of Silicon Valley’s top angel investors and consulting with Laurene Powell Jobs, Steve Jobs’s widow, on his own charity foundation.