Marcy Enterprise Companions, cofounded by Jay-Z, simply closed its second fund with $325 million – TechCrunch

Marcy Enterprise Companions, the enterprise agency cofounded in 2018 by Shawn Carter (Jay-Z), former Roc Nation CEO Jay Brown, and former Walden VC basic accomplice Larry Marcus, says it has closed its second fund with $325 million in capital commitments. The staff, which closed its debut fund with $85 million, is now managing $600 million in property altogether, says cofounder Marcus.

The agency describes itself as having a “client, tradition and optimistic affect” funding technique, and it says the vast majority of its current portfolio firms are based or run by individuals who establish as ladies or individuals of shade.

Thus far, the trio has written checks to a minimum of 21 firms, together with in style, skincare, and meals firms. Amongst these many bets consists of Rihanna’s lingerie firm Savage X Fenty; the sneaker market StockX; Therabody, which makes percussion remedy instruments; Simulate, which makes plant-based, chicken-flavored nuggets; and an allergen-free cookie maker known as Partake Meals.

Carter and firm have additionally begun investing in crypto initiatives, supporting Bitski, a San Francisco-based startup NFT market, earlier this 12 months, and investing extra just lately in spatial LABS (sLABS), a tech incubator that focuses on the metaverse and blockchain-based merchandise.

The San Francisco- and L.A.-based agency, named after the Marcy Tasks in Brooklyn the place Carter grew up, was initially concentrating on $200 million for the latest fund, per an SEC submitting from April.