SOHH Squad
Music mogul JAY-Z is staying busy af in 2018. Fresh off of joining sports giant Puma’s basketball division, Young Hov has now partnered up with a Silicon Valley venture capitalist.
According to reports, the Jigga Man is now linked up with top executive Larry Marcus for a new venture connected to his Marcy Projects neighborhood.
Jay-Z and Roc Nation president Jay Brown have partnered with Silicon Valley venture capitalist Larry Marcus — whose investments have included Pandora and SoundCloud — on a new investment platform called Marcy Venture Partners, according to regulatory filings in California. Background: Last year we reported that the “Jays” were launching a VC firm in partnership with Sherpa Capital, but it was put on hold amid troubles at Sherpa and Roc Nation launching its own startup platform. (Axios)
A few days ago, JAY made headlines after being named president of Puma’s basketball division.
As part of its aggressive commitment to relaunch its basketball sneaker category for the first time in 20 years, Puma on Monday announced that rapper and business mogul Jay-Z has been named president of Puma Basketball. In advance of this week’s NBA draft, Puma has already signed projected first-round picks Deandre Ayton, Marvin Bagley III and Zhaire Smith to multiyear footwear and apparel endorsement deals. The trio represents the first NBA endorsement deals for the brand in two decades. Puma last signed Vince Carter in 1998 to a 10-year deal, although the short-lived contract ended after just two seasons. (ESPN)
PUMA’s global director of brand Adam Petrick has issued a statement about why it made sense to work with Young Hov on this huge power move.
“What’s important to him on a day like today is that it’s clear we’re making a serious push with players like Bagley and Ayton and Smith,” Petrick added. “We’re making a serious statement about the entry of the category, that we want to be a performance brand, but then also very culturally focused. It’s clear that we’re looking at basketball through the lens of culture, and thinking about the fashion of basketball, the music of basketball, all the aspects of culture around basketball as much as the on court presence that we will have.” (HIGHSNOBIETY)
Outside of his new venture and Puma gig, JAY and his wife Beyoncé shared their new “Ape Sh*t” video last weekend.
