Jay-z is reportedly making major waves in the venture capital space.
The music legend and mogul’s venture capital firm, Marcy Venture Partner may be laying plans to merge with the investment arm of Pendulum Holdings, per a report from Bloomberg.
Since its founding in 2019, husband and wife Robbie and D’Rita Robinson, have led has investments in companies including Chinese food brand Fly by Jing Inc., Founders Table Restaurant Group and co-working and warehouse provider Saltbox, Bloomberg points out. Robbie Robinson previously served as a financial adviser to Barack Obama.
Marcy Venture Partners, a reported nod to Marcy Houses, the Brooklyn housing projects Jay-Z lived in during his childhood, was launched in 2018 alongside Walden Venture Capital’s managing director, Lawrence Marcus, and Roc Nation’s president, Jay Brown.
Per a recent report from Dot.La, Marcy Venture Partners leads Series A and B funding rounds with checks that are typically between $5 million and $15 million written to companies with high potential for appeal and growth among. younger demos. More than 70% of the entrepreneurs the firm has invested in are women or people of color.
“The firm invests in Consumer & Culture with an emphasis on positive impact including sustainability, inclusivity, accessibility, empowerment and health & wellness,” per the company’s website. “Our companies are led by exceptional management teams with clear vision, purpose and executional excellence. We lead or co-invest in companies that have meaningful brand values, high customer joy driven by an outstanding product, demonstrated growth and clear catalysts for the next level of scale.”