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.