Jay-Z has quietly filed paperwork to launch an investment firm that might be named after his childhood home

  • Jay-Z has filed new paperwork for a venture firm called Marcy Venture Partners along with Walden Venture Capital managing director Lawrence Marcus and Roc Nation president Jay Brown.
  • Last year, it was reported that Jay-Z was planning on launching a fund along with Sherpa Capital.

Jay-Z is expanding his efforts in venture capital according to new paperwork that was filed with the state of California  sometime last month. 

Along with Walden Venture Capital managing director Lawrence Marcus and Roc Nation president Jay Brown, Jay-Z, otherwise known as Shawn Carter, is creating another fund, called Marcy Venture Partners. 

The fund's name might be a nod to Carter's Brooklyn upbringing in the public housing complex the Marcy Projects, which has been repeatedly referenced in his lyrics in the past.

RELATED: Beyonce in 2018

12 PHOTOS
Beyonce in 2018
See Gallery
Beyonce in 2018
HIDE CAPTION
SHOW CAPTION
of
SEE ALL
BACK TO SLIDE

This isn't the first time the celebrated rap artist has turned his eye to venture capital. In recent years, Carter has backed several high profile companies including luggage company Away, brokerage app Robinhood, and private jet company JetStarter.

Last year, Axios reported that Carter was planning to launch a VC fund along with the San Francisco-based venture firm Sherpa Capital. Plans for the fund failed to materialize after reported complications with Sherpa, although the new filing reveals that the delays haven't caused Jay Z to lose his interest in investing. 

Representatives for Jay-Z did not immediately respond to a request for comment.

More from Business Insider:

Read Full Story