(AllHipHop News) Shawn "Jay-Z" Carter's name was attached to a potential venture capital fund in 2017. The legendary Hip Hop mogul was supposedly set to join with Sherpa Capital but the deal was never finalized.
According toBusiness Insider, Jay is currently creating a new VC firm called Marcy Venture Partners. Paperwork for the enterprise was reportedly filed last month in California.
The 48-year-old emcee is said to be partnering with Lawrence Marcus (Walden Venture Capital's managing director) and Jay Brown (Roc Nation's president) for Marcy Venture. Jay-Z grew up in Brooklyn's Marcy Projects, and he mentioned the public housing complex in his music throughout his career.
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.
Rocawear was co-founded by Jay as well. Iconix Brand Group's purchase of the clothing brand in 2007 led to Carter answering questions before the Securities and Exchange Commission in May. He rapped about that SEC testimony on the Everything Is Love track "Nice."
"Yeah, f-ck your subpoenas and your misdemeanors, was too busy touring out all your arenas. My passport is tatted, it look like it's active. I play on these planes, y'all catch me in traffic. Y'all drag me in court for that sh-t, y'all backwards," spits the Brooklyn-raised entertainer on the duet with his wife Beyoncé.