Jay Z not busy enough so he's reportedly starting a VC fund.

CREDIT Ari Perilstein  Getty Images

According to a recent report by Axios, Jay Z is planning on launching a new venture capital fund. Fortunately, this gives us a decent comparison point for the obvious question: Could this fancy-sounding venture capital fund actually have legs?

Jay Z is further extending his portfolio of endeavors. Together with Roc Nation president Jay Brown, Carter has formed a venture-capital fund of his own, an as-of-yet unnamed firm that will focus on technology-based companies. The serial entrepreneur will partner with his Roc Nation business partner Jay Brown.

This isn't the first time that Jay Z has set his sights on investments.

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Jay Z is no stranger to the tech landscape. In early 2015, the rap star bought Swedish holding company Aspiro AB, the parent company of music-streaming service Tidal, with a group of musicians for a reported $US56 million ($73 million). Since 2012, Shawn Carter and Brown have invested in tech start-ups.

The rapper turned business juggernaut has been investing in tech star ups since 2012-including an investment in Uber vehicle service's Series B, tech savvy luggage maker Away, and a private-jet startup, Jet Smarter. He's also invested in JetSmarter and Uber, according to Crunchbase, which collects VC investment data.

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