Backing Robinhood, JAY-Z’s Roc Nation invests in would-be Rockefellers
Roc Nation, the full-service entertainment management company created by the music impresario Shawn Carter (better known as JAY-Z), is making an investment in financial trading platform Robinhood.
The investment, through Roc Nation’s Arrive subsidiary, is the latest instance of a celebrity rapper plowing cash into Robinhood’s free-to-trade investment platform. The company also counts Snoop Dogg and Nasir Jones (also known as Nas) among its big-time backers.
Robinhood is actually Arrive’s third investment into a high-growth startup tech company. The firm has also backed Devialet, a French audio technology company, and InSite Applications, a location-sharing platform that’s planning to launch its services later this year.