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One-time rapper Jay Z is apparently further embracing the financial world.

According to a new report from Axios, the music mogul and businessman is in the process of creating a venture capital firm, alongside Roc Nation co-founder Jay Brown. The pair is said to be looking for a third investment partner and eventually join forces with Sherpa Capital, with plans to focus on early-stage funding.

It's hardly Jay's first business venture, considering he is the co-owner of music streaming platform Tidal. He and Brown have previously invested in Uber's Series B, while Jay has separately funded the high-tech-luggage brand Away, the nail-parlor brand Julep and the private-jet startup JetSmarter.

A rep for Jay Z didn't immediately respond to a request for comment.