Jay-Z is behind a new venture capital fund called Marcy Venture Partners, launched by Walden Venture Capital Managing Director Larry Marcus, and Jay Brown, Business Partner long-time Roc Nation.
The fonds was reported for the first time by Axios. Shawn "Jay-Z" Carter is no stranger to the business world. The rap artist, producer and entrepreneur invested in the Uber B Series in 2011 while the company had a pre-monetary valuation of $ 300 million. Jay-Z has also invested in JetSmarter and Julep. Roc Nation supported Promise, a startup of decarration.
Jay-Z and Jay Brown were looking for a Silicon Valley partner for their fund last year. And at one time it seemed that they had landed on Sherpa Capital, a venture capital company created by some of Uber's early investors. But this deal has collapsed.
Now Marcus of Walden Venture Capital will lead Marcy Venture Partners. Marcus has great experience as an investor as a precursor to Pandora and Netflix. Marcus also invested in SoundHound, a start-up specializing in sound and voice research, the retail technology company Skip and Terayon, which was acquired by Motorola.