Jay-Z Seeking Funding For New Label

By: Errol Mars

Jay-Z wants to launch his own record label. He is reported to be looking for a record company to invest $100 million in his new venture.

The New York Post is reporting that Jay-Z has been unable to find a record company to invest the $100 million he wants to start his Carter Music Group.

"He wants a label to give him $100 million for the Carter Music Group and provide for overhead, development and digital investment. It's crazy. He wants the labels to basically be his venture capital fund - but unlike a venture cap, they won't get 50 percent.

A representative for the Jay-Z said the reports are nothing more than rumours.

I think I'll believe Jay's rep on this one. There are plenty of people willing to bankroll a Jay-Z venture and after all if Jay-Z really want too, he has the capability to bankroll his own venture. According to Forbes.com, Jay made an estimated $83 million last year alone.

Tags: Feature, Shawn "Jay Z" Carter

Related Sponsors:

If you like this article then please consider subscribing to our RSS feed. You can also subscribe by Email and have new posts sent directly to your inbox. You can also subscribe by adding our feed to one of the following services by clicking on the appropriate buttons.