Jay Z Reportedly Expands Empire with Launch of Marcy Venture Partners, a New Investment Firm in CA

Jay-Z performs on stage during the “On the Run II” tour opener at Principality Stadium on June 6, 2018 in Cardiff, Wales. (Photo by Kevin Mazur/Getty Images For Parkwood Entertainment)

by Michelle Darrisaw via essence.com

Jay Z is adding venture capitalist to his burgeoning resumé.

The rapper-entrepreneur, who is currently on a global tour with his wife, Beyoncé, reportedly filed paperwork in the state of California last month to launch an investment firm. The news of the venture fund comes just one week after the legendary rapper and  Beyoncé surprised fans with a joint album called Everything Is Love.

According to Business Insider, Jay Z is creating a fund called Marcy Venture Partners, which could be an ode to Marcy Houses, the Brooklyn housing projects he grew up in as a kid. In addition to Jay Z, Walden Venture Capital’s managing director, Lawrence Marcus, and Roc Nation’s president, Jay Brown, will also spearhead the founding venture capital firm.

However, this isn’t the first time the “Marcy Me” rapper hedged his bets in Silicon Valley. In 2017, he immersed himself in the venture capital world by launching investment platform Arrive to aid start-ups and businesses with branding support.

Notably, Jay Z’s angel investments also include funding for luggage company Away, premium sock company Stance, the stock-trading app Robinhood and private-jet company JetSmarter.

By adding more investment opportunities to his business repertoire, it looks like the hip-hop mogul, who, per Forbes, has a net worth of $900 million, is well on his way to becoming “the next Black Bill Gates in the making.”

Source: https://www.essence.com/celebrity/jay-z-launches-new-investment-firm-marcy-venture-partners

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