SAN FRANCISCO, California — According to a new filing, Marcy Venture Partners, the VC firm co-founded by Jay-Z, Jay Brown and Larry Marcus, raised $85 million in its first round of funding.
The San Francisco based venture firm, has already invested in six companies thusfar. Its most recent investment was in electric mobility startup Wheels in October 2019, and the largest round it’s led so far was a $70 million round for singer Rihanna’s lingerie line Savage X Fenty. The firm’s first investment since it was founded in March 2019 was Hungry Marketplace’s $8 million Series A in April 2019.
Jay-Z and his team are not new to the business of investing. In its early stages of funding, Jay-Z invested in Uber, and Larry Marcus, a seasoned investor, has invested in industry giants like Netflix and Pandora via Walden Venture Capital.