Jay Z continues to diversify his business portfolio.
The 47-year old rap superstar, born Shawn Carter, and Roc NationPresident Jay Brown are preparing to start a venture-capital firm per Axios.
They will partner with Sherpa Capitol to launch the firm and are currently searching for a third investment partner
Axiom reports that Carter and Brown's company will focus on "seed-stage tech opportunities." The fund size has not yet been determined.
Over the last several years the pair have invested in JetSmarter, Uber's Series B, cosmetics company Julep and the luggage company AWAY, according to Business Insider.
Jay Z also launched the music streaming service TIDAL in 2015.