Jay-Z’s Venture Capital Firm Is Reportedly In Talks Of A Merger That Would Result In $1B In Combined Assets
Jay-Z’s Venture Capital Firm Is Reportedly In Talks Of A Merger That Would Result In $1B In Combined Assets
Major changes may be on the way for Jay-Z’s Marcy Venture Partners.
The rapper’s venture capital firm, established in 2018, was created to build “innovative businesses and mass-market brands,” its company website mentions. Its areas of investment focus on sustainability, inclusivity, empowerment, accessibility, and health and wellness.
As AFROTECH™ previously mentioned, its investment portfolio includes at least 24 companies such as Wheels, an electric transportation company; Hungry Marketplace, a food tech company; and Rihanna’s Savage X Fenty lingerie brand. MVC also participated in a $33 million funding round for premier beauty brand Madison Reed in 2022 and backed 24-year-old technologist Iddris Sandu to embolden his tech incubator, Spatial Labs.
“Aligning with Marcy Venture Partners assists with our vision for elevating the youth as it relates to access and a means to true technological empowerment,” Sandu said at the time. “The lasting impact of this relationship is not simply defined by the work we’re doing now, but by the immeasurable impact for generations of creators to come.”
To support its efforts, Marcy Venture Partners closed its debut fund with $85 million in 2020 and was fortified yet again a year later in its second funding round with an impressive $325 million. At the time, the firm had been managing $600 million in assets, according to group co-founder Larry Marcus, per TechCrunch.
In the most recent update surrounding the firm, Bloomberg reports that Marcy Venture Partners is in talks to merge with Pendulum Holdings’ investment arm, sources close to the matter mentioned.
Pendulum Holdings was launched by married couple Robbie and D’Rita Robinson in 2019. Robbie had worked as Barack Obama’s financial adviser. Pendulum has since invested in companies such as Chinese food brand Fly by Jing Inc. and Founders Table Restaurant Group.
If the agreement is green lit, this will lead to more than $1 billion in combined assets. Furthermore, sources mention a deal is on the brink of being finalized.
At the time of this writing, there is no comment from representatives for Marcy Venture Partners or Pendulum.