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US Rapper, Jay Z launches new venture capital fund for startups

By Patricia Uyeh

 

American rapper/business mogul, Shawn ‘Jay-Z’ Carter has launched a new venture capital fund showing his keen interest for startups and technology.

This new fund will be called Marcy Venture Partners, named for his childhood home in Marcey Houses in Brooklyn, New York.

Before now, the ‘Empire state of mind’ crooner’s major recent deal was for Norwegian music streaming service Tidal, which he took privately for $56m in 2015. The music streaming service has been aimed to compete with the likes of Spotify.

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