While the Grammy-winning rapper, Nas, is famous for his work in the hip-hop industry, the N.Y. State of Mind rapper also made his mark in tech venture investments early in his career.
QueensBridge Venture Partners, Nas’ venture capital firm, invested in Coinbase back in 2013 after participating in the cryptocurrency exchange company’s $25 million Series B investment round. The round valued Coinbase at roughly $150 million, Forbes reported, based on PitchBook data.
Eight years later, when Coinbase began trading publicly in April 2021, Forbes estimated that the stake associated with Nas’ venture firm was worth at least $40 million.
Nas’ Coinbase Investment Started With a $150 Million Valuation
QueensBridge Venture Partners was one of the investors in the Series B fundraising of Coinbase back in 2013, during the early years of the cryptocurrency exchange.
Forbes reported that QueensBridge invested between $100,000 and $500,000 in the round, which was its typical investment range. However, the venture capital firm has not confirmed its exact investment in Coinbase.
The valuation of Coinbase in the Series B funding round stood at around $150 million based on data from PitchBook as cited by Forbes. This valuation was just a tiny portion of the valuation of the company when it went public.
