Jay-Z’s Marcy Venture Partners Just Closed Its Second Round With $325M

Marcy Venture Partners, the venture firm co-founded in 2018 by Jay-Z, has just closed its second fund with $325 million in capital commitments.

The firm describes itself as having a “consumer, culture and positive impact” investment strategy. The team has so far written checks to at least 21 companies, including Rihanna’s lingerie company Savage X Fenty.

Earlier this year, they also began investing in crypto projects, supporting Bitski, a San Francisco-based startup NFT marketplace, and investing more recently in spatial LABS (sLABS). This tech incubator focuses on metaverse and blockchain-based products.

We reported a few weeks ago that Jay-Z had partnered with 24-year-old Iddris Sandu – the founder of sLABS, and added his startup to the firm’s growing list of investments.

“Iddris has a conscious world view and a youth-centric vision that is innovative and refreshing to witness,” Jay-Z said in a statement.

“We share similar parallels in how we imagine impacting people in our lifetime. Partnering with him on this journey and others is very exciting,” he added.

According to Marcy Venture’s co-founder, former Walden VC general partner Larry Marcus, the company, which closed its debut fund with $85 million, is now managing $600 million in assets altogether.

The team, which also includes former Roc Nation CEO Jay Brown, closed its debut fund with $85 million.

Abbianca Makoni

Abbianca Makoni is a content executive and writer at POCIT! She has years of experience reporting on critical issues affecting diverse communities around the globe.

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