Next time you Jay-Z, don't be surprised if he's wearing a plaid button down under a forest green fleece vest and a pair of super sensible khaki slacks.
Because according to Dan Primack, Hova is about to enter the crazy dangerous world of tech venture capital:
Rapper and ubiquitous mogul Jay-Z is launching a venture capital fund, according to multiple sources. One of his partners will be Jay Brown, a longtime business partner and president of Roc Nation.
Based on our math*, Jay-Z would be the first self-confessed former crack dealer to launch a venture fund since Marc Andreessen. But unlike his early entrepreneurial days, Jay will have help from Goldman Sachs types that doesn't involve being a client.
The pair also is scouring the venture market for a full-time investment partner. The "Jays" also are partnering with Sherpa Capital, although this won't be a Sherpa-branded effort, and existing Sherpa staff won't be leading investment.
Sherpa was founded by Scott Stanford, Goldman's former Man in The Valley who ran the firm's tech investment practice before leaving to launch his own fund in 2013. Primack also reports that Beyoncé's husband will be looking to focus on seed rounds, providing us with the distinct possibility that a socially-stunted tech founder will soon have the opportunity to compound the nightmarishly stressful and awkward process of pitching a VC by having that VC be literally Jay-Z.
Or he might just send Blue Ivy in his stead, as she is already likely hipper and more worldly than half of the burgeoning billionaires in the Valley of Silicon.
No word yet on when we'll here more about Roc-A-Capital (because that's obviously what this should be called) but we will be following this story closely...as we are pretty much repulsed by all the other news coming out of Silicon Valley these days.
Jay-Z is launching a VC fund [Axios]
*(Our math is a joke)