Jay-Z’s Marcy Venture Partners has raised an $85 million fund to invest in consumer-focused startups, according to a recently-released SEC filing by zogblog
“It’s not always [just] money you bring to the table,” hip-hop star and Queensbridge Venture Partners cofounder Nas told me in an interview for my book , pointing out that stars often provide valuable connections and exposure for fledgling companies.
Nas, once a bitter rival of Jay-Z in the battle for New York hip-hop supremacy, now fights for deal flow—as opposed to lyrical bragging rights—with his erstwhile foe. Indeed, hip-hop has spawned some of the most prolific investors at the intersection of entertainment and venture capital. In addition to Nas and Jay-Z, other startup-savvy names include Diddy, 50 Cent, Snoop Dogg and even Chamillionaire.
The trend has boosted individual moguls, but also serves as an inspiration to a section of society that’s been historically cut off from ownership opportunities. It’s hard to ignore the symbolism of Jay-Z and Nas, both of whom named their venture outfits after the housing projects in which they grew up, becoming serious venture capitalists. Jay-Z a billionaire. “It’s the blueprint for our culture.
For more on how stars like Jay-Z are leveraging their fame to invest early in startups—and create generational wealth—check out my new book,
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