Noted rapper and businessman Jay Z is launching a venture capital fund, according to Axios. The mogul will be joined in the new endeavor by Roc Nation president Jay Brown. Unnamed sources told Axios that Jay Z, whose real name is Shawn Carter, will partner with venture capital firm Sherpa Capital, which has invested in companies like Uber, Airbnb and Slack.
Related: Sprint acquires 33% stake in Jay Z’s Tidal music
Jay Z’s entertainment company, Roc Nation, has made some investments in tech startups such as BlackJet and Devialet. Carter is also the co-owner of the music-streaming service Tidal.