Marcy Enterprises, Jay-Z’s venture capital firm, has joined forces with Pendulum Holdings’ investment arm, Pendulum Alternatives, in a merger that has given birth to MarcyPen Capital Partners, a representative from the combined entity has confirmed to TechCrunch.
MarcyPen Capital Companions, a recently formed entity, now manages approximately $900 million in assets, according to data from Pitchbook.
A spokesperson for MarcyPen declined further comment, but it’s been confirmed by the California Secretary of State that the merger was completed in September.
As MarcyPen is already shifting into gear. Prior to its merger with Marcy Enterprise Companions, Pendulum Alternatives aimed to raise a $250 million Fund II, and is now continuing this effort under the title MarcyPen Alternatives Fund II. According to reports, the company has already secured over $100 million in funding.
Jay-Z, Shawn Corey Carter, and Larry Marcus founded Marcy’s Enterprise in 2018. As the co-founder of Roc Nation, Brown’s entrepreneurial ventures diverge from those of Marcus, whose earlier endeavor, Walden VC, backed successful startups like Pandora Radio and innovative theatre platform TodayTix. The three entrepreneurs collectively ran Marcy Enterprise Companions, which partnered with notable companies such as Partake Foods and Rihanna’s successful lingerie brand, Savage x Fenty.
Pendulum, re-established in 2019 by founder Robbie Robinson, found a new home with the esteemed Obama family, residing alongside him and his wife, D’Rita. According to PitchBook, Pendulum has collaborated with companies such as Greenwood Financial Institution and Adwoa Beauty, a renowned hair model.
