Ninety nine problems, but a term sheet ain't one.
Yup, Jay Z, the noted rapper, businessman, sports mogul and soon-to-be father of twins is adding venture capitalist to the long list of titles he holds.
According to Axios, Beyoncé's husband's as-yet-untitled fund will likely focus on seed-stage tech investments. It will include Jay Brown, who runs entertainment management company Roc Nation, and Sherpa Capita, according to the report. (Jay Z, born Shawn Carter, founded Roc Nation.)
Representatives for Jay Z didn't immediately respond to a request for comment. Sherpa Capital declined to comment. Roc Nation didn't immediately respond to a request for comment.
Jay Z is no stranger to the tech landscape. Sprint, the mobile phone carrier, recently bought a third of his Tidal music service, which streams tunes in high-fidelity audio files. He's also invested in JetSmarter and Uber, according to Crunchbase, which collects VC investment data.
Every indication suggests investing will work out for Jay Z, but if it doesn't he can always fall back on being the author of the best-selling Decoded, a memoir that is told through his lyrics.
Or he could try something new. Like sleep.
First published Feb. 21, 11:45 a.m. PT.
Update, 12:30 p.m.: Adds that Sherpa Capital declined to comment.