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Jay-Z reportedly launches venture capital fund

BOSS MOVES: JAY-Z

JAY-Z HAS partnered with the managing director of Walden Venture Capital and Roc Nation president to launch a new venture fund.

Jay, along with Larry Marcus and Jay Brown will launch Marcy Venture Partners, a new venture fund, according to regulatory filings in California.

The fund’s name is a nod to Jay-Z’s upbringing in the Marcy Houses, a public-housing complex in Bedford-Stuyvesant, Brooklyn.

The pairing with Marcus, an early backer of Netflix and Pandora, appears to pick up where the rapper and Brown left off when, last year.

In 2017, a deal to launch a fund with VC firm Sherpa Capital fell through and in March 2017, Roc Nation also launched the startup-backing fund Arrive, in collaboration with Primary Venture Partners and Glassbridge Asset Management.

As an investor, Carter's portfolio includes Roc Nation, Roc Nation Sports, Tidal, 40/40 Clubs, Armand de Brignac, JetSmarter, Away, Robinhood, and other businesses. His current net worth is estimated to be $900 million.

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