Arrive, Jay-Z’s Startup Platform, Raises $20 Million
Jay-Z has his hands in a lot of different companies, but his most recent venture seems to be taking off. Arrive, the rapper’s venture capital firm, recently raised $20 million, according to SEC documents.
Roc Nation, Arrive’s parent company, announced the launch of the VC firm in February. The firm targets early-stage startups in need of brand assistance and investment capital.
When it launched, Arrive touted itself as a platform that thrived on not only funding early stage startups, but also having a central role in the branding of companies it invested in — something that could be attractive for companies focused on speeding up the growth process.
So far, Arrive has invested in Robinhood, an investment platform now worth over $5 billion; Delviat, an audio technology company; and Insite Applications, a company focused on location sharing technology.