Marcy Venture Partners, the venture firm co-founded in 2018 by Shawn Carter (Jay-Z), former Roc Nation CEO Jay Brown, and former Walden VC general partner Larry Marcus, says it has closed its second fund with $ 325 million in commitments from the capital. The team, which closed its debut fund with $ 85 million, now manages $ 600 million in total assets, says co-founder Marcus.
The firm describes itself as having a “consumer, culture and positive impact” investment strategy, and says that most of the companies in its existing portfolio are founded or run by people who identify as women or people of color.
To date, the trio has written checks to at least 21 companies, including fashion, skincare, and food companies. Among those many bets are Rihanna’s lingerie company, Savage X Fenty; the StockX sneaker market; Therabody, which makes percussion therapy tools; Simulate, which makes plant-based chicken-flavored nuggets; and an allergen-free cookie maker called Partake Foods.
Carter and the company have also started investing in crypto projects, supporting Bitski, a San Francisco-based startup NFT market, earlier this year, and more recently investing in space LABS (sLABS), an incubator of technology that is focused on the metaverse and based on blockchain. products
The San Francisco and Los Angeles-based firm, which is named after Marcy Projects in Brooklyn, where Carter grew up, was initially targeting $ 200 million for the newer fund, for a SEC filing of April.