JAY-Z Invests in Luxury Watch Trading Platform Wristcheck
In a recent funding round of approximately $5 million USD.
JAY-Z has taken an equity stake in the luxury watch trading platform Wristcheck, as part of a recent funding round of approximately $5 million USD, according to Bloomberg. The 24-time Grammy award-winning artist is known for his esteemed watch collection, owning timepieces from brands including Richard Mille, Audemars Piguet and Patek Philippe.
“The godfather of celebrity watch collectors, JAY-Z is a visionary who shaped modern watch culture as we know it today,” Wristcheck wrote on Instagram. “His investment speaks volumes about the trust and credibility we’ve built since founding Wristcheck in late 2020 – and it’s all thanks to you, our incredible community.”
View this post on Instagram
Based in Hong Kong, Wristcheck mainly targets high-end watch consumers and sellers in Asia. The company, founded by Austen Chu in 2020, has raised roughly $13.6 million USD in funding since its establishment. Additional investors include the Alibaba Entrepreneurs Fund, Gobi Partners GBA, and K3 Ventures.
“As an entrepreneur, JAY-Z has always been an inspiration to me,” Chu said in a statement. “I remember growing up to his music — his lyrics fueled my love for watches even further, as he bridged the gap between watches and pop culture. As the most influential celebrity watch collector of the 21st century and a certified G.O.A.T, his support carries immense weight both personally and professionally
JAY-Z is only the latest famous name to enter the watch trading business. Cristiano Ronaldo and Charles Leclerc previously backed the Internet’s largest watch-selling platform, Chrono24, while John Legend, J Balvin, and Kevin Hart have invested in Bezel.
