Marcy Venture Partners, an investment firm co-founded by Shawn “Jay-Z” Carter, hip-hop’s first millionaire and one of America’s leading Black billionaires, is in advanced talks to merge with Pendulum Holdings. The transaction might create a new organization with nearly $1 billion in assets, a huge move for Marcy Ventures.
Marcy Ventures, founded in 2018 by Jay-Z, Jay Brown, and Larry Marcus, has established a position in the consumer and culture market. The firm’s portfolio includes investments in Rihanna’s Savage X Fenty, beauty brand Merit Beauty, kitchenware manufacturer Our Place, and parenting website Babylist.
Notably, Marcy Ventures has a good eye for developing food trends, having invested in startups such as vegan chicken maker Simulate, oat milk behemoth Oatly, and plant-based meat pioneer Impossible Foods.
Marcy Ventures has expanded beyond consumer and food into technology, investing in cybersecurity enterprises, smartphone accessory companies, and even electric bicycles. Previous investments include StockX, a popular sneaker marketplace, and Therabody, a leader in percussive therapeutic devices.
A possible merger with Pendulum Holdings would combine Marcy Ventures’ emphasis on consumer brands with Pendulum’s broader investment strategy. Pendulum, formed by husband-and-wife pair Robbie and D’Rita Robinson, has a varied portfolio that includes investments in Chinese food company Fly by Jing Inc., restaurant group Founders Table, and coworking space provider Saltbox.
Jay-Z’s anticipated move comes as he seeks to establish himself as a big corporate power. Forbes estimates that the billionaire’s net worth will quadruple to $2.5 billion by 2024, making him one of the world’s wealthiest individuals. Strategic divestments, such as the recent sale of a controlling ownership in D’Usse cognac to Bacardi, and a large settlement from a long-running court struggle have helped to strengthen his financial position.
This proposed merger with Pendulum demonstrates Jay-Z’s persistent desire to expand his corporate empire beyond music. With a combined $1 billion in assets under management, the new entity is poised to make even bigger waves in the investment world.