Jay-Z’s Marcy Venture Partners Adds Simulate to Raft of Bets
(Bloomberg) -- Marcy Venture Partners, the firm co-founded by Shawn “Jay-Z” Carter, Jay Brown and Larry Marcus, was among investors in a recent funding round that valued faux-chicken maker Simulate at more than $250 million.
Simulate spokesman Andrew Watts confirmed Marcy Venture’s participation, declining to provide the size of the firm’s investment.
Marcy -- a nod to Brooklyn’s Marcy Projects where Jay-Z grew up -- has backed companies across various industries. Its investments include Rihanna’s lingerie line Savage x Fenty, workout-recovery specialist Therabody, crypto-security firm Ledger, catering startup Hungry, electric-bike maker MATE, home-fitness program LIT Method, non-fungible token platform Bitski, compostable phone-case maker Pela and allergen-free cookie maker Partake Foods.
Marcy Ventures, based in San Francisco, recently began fundraising for its second vehicle with a target of $200 million, according to data compiled by Bloomberg and a filing with the Securities and Exchange Commission. Marcy raised $85 million for its first fund.
A Marcy spokesperson didn’t immediately respond to a request for comment.
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