Marcy Venture Partners, cofounded by Jay-Z, just closed its second fund with $325 million – TechCrunch – /


Mercy Venture Partner, Shawn Carter (Jay-Z), former Roc Nation CEO Jay Brown, and former Walden VC basic accomplice Larry Marcus co-based in 2018, the enterprise closed its second fund with a $ 325 million capital dedication. It states that it did. The group, which closed its debut fund for $ 85 million, at the moment manages a complete of $ 600 million in belongings, says co-founder Marcus.

The corporate states that it has a “shopper, tradition, optimistic impression” funding technique, and many of the current portfolio firms are based or operated by individuals recognized as girls or individuals of shade. It states that there’s.

To this point, the trio has written checks for at the least 21 firms, together with vogue, skincare and meals firms. Amongst these many bets embody Rihanna’s lingerie firm Savage X Fenty. Sneaker Market StockX; Making Percussion Remedy Instruments Therabody; Simulate makes plant-based mostly rooster-flavored nuggets. And an allergen-free cookie maker known as Partake Meals.

Carter and the corporate have additionally begun investing in crypto initiatives, supporting Bitski, a San Francisco-based mostly startup NFT market, and extra lately spatial LABS, a know-how incubator targeted on the Metaverse and blockchain base. sLABS) is investing.product

Named after Carter’s rising up in Brooklyn’s Mercy venture, the San Francisco and LA-based mostly firm initially focused $ 200 million in its newest fund. SEC filing From April.

Marcy Venture Companions, cofounded by Jay-Z, just closed its second fund with $325 million – TechCrunch Source link Marcy Venture Companions, cofounded by Jay-Z, just closed its second fund with $325 million – TechCrunch



Marcy Venture Companions, cofounded by Jay-Z, just closed its second fund with $325 million – TechCrunch – /

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