Shawn Carter, better known as Jay-Z, has had an appetite for investment dating back at least as far as 2012, when he invested in Uber, Away and Jetstarter among others through a subsidiary, Arrive Venture Capital. However, Arrive just added Robinhood to its portfolio, following Nas and Snoop Dogg.
“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.” Explained Arrive’s head, Neil Sirni.
Robinhood’s value is inching near $1.5B and Robinhood Crypto, though with its limited scope, is already considered a success by analysts. Robinhood is the third venture under Arrive, with it coming into foray right after bitcoin announcement.
While rappers like 50Cent have aggressive positions in bitcoin, Jay-Z can be considered a first mover. His Soldier Field stadium collaborated with the Chicago Sun Times to avail the tickets with bitcoin payment option through a third party vendor.