Jay Z’s Roc Nation empire has bolstered the formation of a new start-up called Arrive. As per a release on March 6, this new platform would focus on nurturing promising start-up companies.
Shawn Carter popularly known as “Jay Z” is launching Arrive, a new start-up firm as part of Roc Nation. The platform will collaborate with a selected group of early-stage startups to offer business and brand development services. The company would also provide financial support for their growth.
Roc Nation comprises of songwriters, producers, and music artists. On the other hand, its sports subdivision would aid professional athletes.
This would be the 1st alliance announced by the GlassBridge Asset Management. GlassBridge initially originated from Imation, the data storage company.
As per a news release, GlassBridge would help Arrive with institutional and operational support. GlassBridge’s spokesperson declined to elaborate on details.
GlassBridge Enterprises is headquartered in Oakdale. The enterprise is a wholly-owned subsidiary of GlassBridge Asset Management. The firm was initially created to help the technology-driven and quantitative strategies. Imation Corp formerly changed their name to GlassBridge Enterprises on February 21.
Arrive was created via a collaboration of GBAM (GlassBridge Asset Management), Jay Z’s Roc Nation, and Primary Venture Partners (company located in New York)
Talking about the company, Neil Sirni, the Head of New Ventures at Roc Nation said, “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”.
He further continued citing, “Arrive also anticipates the launch of a traditional venture fund in order to, among other activities, support existing portfolio companies through their subsequent growth stages.”
Primary Venture Partners is primarily focused on seed investments of the industry, mainly for those industries that transform technology firms. Enterprise SaaS and next-gen commerce companies would serve as venture adviser to the new Jay-Z’s Arrive.
Ben Sun, the co-founder of Primary Venture Partners, expressed his excitement over the new collaboration venture with Roc Nation. He said, “What Roc Nation has built so far is a true testament to their vision, capabilities, and willingness to dig in and take their companies to the next level. We are thrilled to partner with the amazing team at Arrive and to leverage these unique resources to build the next generation of powerful brands.”