Jay-Z's venture capital firm, Marcy Venture Partners, has merged with Pendulum Opportunities, the investment arm of another black-owned investment firm, Pendulum Holdings, to form MarcyPen Capital Partners, a MarcyPen spokesperson confirmed to TechCrunch.

The newly formed MarcyPen Capital Partners has $900 million in assets under management, according to PitchBook.

However, a spokesperson for MarcyPen declined to comment further on the matter. private equity industry database Prequin And records filed It shows that the merger with the California Secretary of State was completed around September.

It looks like MarcyPen is already well on its way. Pendulum Opportunities was considering raising a $250 million Fund II before merging with Marcy Venture Partners and currently continues to do so under the MarcyPen Opportunities Fund II name. According to has already secured just over $100 million SEC filing.

Jay-Z, Jay Brown and Larry Marcus founded Marcy Venture Partners in 2018. Brown is the co-founder of Roc Nation; Marcus was the co-founder of Walden VC, which previously invested in Pandora Radio and theater ticket company TodayTix. Together, the trio ran Marcy Venture Partners, which backed numerous companies, including Parte Foods. web3 company Spatial Labsand Rihanna's lingerie brand Savage x Fenty.

Meanwhile, Pendulum was founded by Robbie Robinson in 2019. a consultant To the Obama family and his wife D'Rita. Pendulum backs companies like Greenwood Bank and hair brand Adwoa Beauty, according to PitchBook.