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It’s no secret that Hip-Hop’s first billionaire Jay-Z is always where the money resides, and that goes for Jay-Z’s Marcy Venture Partners as well. TechCrunch reports, The “Hard Knock Life” rapper’s venture capital firm Marcy Venture Partners — co-founded with Jay Brown (former Roc Nation CEO) and Larry Marcus (Walden VC general partner) — has just closed its second fund with an impressive $325 million. As AfroTech previously reported early last year, the firm’s first fund was a whopping $85 million and signaled the start of new investments. Now, according to TechCrunch, Jay-Z’s Marcy Venture Partners is “now managing $600 million in assets altogether,” says the group’s co-founder Larry Marcus. The trio’s mission is to drive the consumer and mass-market to allow culture to transcend across products, services, media and technology. Marcy Venture Partners prides itself in filling its portfolio with companies that are run by minorities and women pushing forward its key values, which...
Partake Foods — an allergy-friendly cookie company — closed a $1 million funding round this week led by Marcy Ventures , Jay-Z’s venture capital firm. The New Jersey-based company launched in 2016 after its founder, Denise Woodard, needed to find snacks for her daughter who’d just been diagnosed with a list of common food allergies. Woodard developed a recipe for cookies that excluded wheat, tree nuts, peanuts, milk, eggs, soy, fish, and shellfish. The company has five cookie flavors ranging from double chocolate chip to carrot oat. Each box costs $4.99 in retail stores and two boxes cost $14.99 on Amazon . The cookies are currently carried in Whole Foods, Wegmans, and over 300 other specialty grocery stores. Partake Foods plans to expand to at least 1,000 more stores by the end of the year. Marcy Ventures invested in another food-focused startup early this year. The firm provided $8 million in funding to Arlington, Va.-based food-tech company, Hungry Marketplace, for its Series A...
Rumors swirled last year that Jay-Z and Roc Nation CEO Jay Brown were looking to launch a venture capital firm. A report in TechCrunch last February claimed they would focus on seed investments in young startups. The firm appears to be in the works this month, as regulatory filings were made in California from Larry Marcus (of Walden Venture Capital in San Francisco, who has invested in companies such as Pandora) for a firm called Marcy Venture Partners. This wouldn’t be the first time Jay-Z was involved in backing startups, as he’s already created the RocNation platform Arrive and invested in startups such as private plane company JetSmarter and even the luggage brand Away .