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Jay-Z has partnered with Larry Marcus, managing director of Walden Venture Capital, and Roc Nation president Jay Brown to launch a new venture fund called Marcy Venture Partners, according to regulatory filings in California.
The pairing with Marcus, an early backer of Netflix and Pandora, appears to pick up where the “Jays” left off when, last year, a deal to launch a fund with VC firm Sherpa Capital fell through. In March 2017, Roc Nation also launched the startup-backing fund Arrive, in collaboration with Primary Venture Partners and Glassbridge Asset Management.
The mogul and Tidal owner’s investment portfolio consists of luggage company Away, nail parlor company Julep and the private-jet startup JetSmarter. Jay-Z also notably invested in Uber’s Series B round in 2011 and earlier this year, Arrive announced it would be backing financial platform Robinhood.
This story first appeared on Billboard.com.
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