Jay Z teams up with a new Silicon Valley partner to launch "Marcy Venture Partners."
It looks like Jay Z is expanding his business ventures once again. According to reports, Hov has teamed up with Roc Nation president Jay Brown and Walden Venture Capital’s Larry Marcus for a new venture fund called Marcy Venture Partners.
For the past year, Jay-Z and Jay Brown have been looking for a Silicon Valley partner for their fund, and at one time, it appeared they had landed one with Sherpa Capital, a VC firm created by some of Uber’s other early investors. But unfortunately that deal fell apart. Now Walden Venture Capital’s Larry Marcus, who has deep experience as an investor as an early backer of Pandora and Netflix, will lead Marcy Venture Partners.
Jay Z is no stranger to the venture world. The Brooklyn legend invested in Uber’s Series B round in 2011, before later investing in apps like JetSmarter and Julep as well. His most recent deal was just a few months ago when Hov and Roc Nation’s Arrive company invested in a free stock trading app called Robinhood, which we've yet to hear anything more of since.
This report comes just a week after Jay surprised fans with a joint album with his wife, Beyonce, called Love Is Everything, which just debuted at no. 2 on the Billboard 200. It fell short to this week’s top album, 5 Seconds Of Summer’s Youngblood.