Jay-Z Invests In Multi-Million Dollar Smart-Home Company
By Kiani Belgrave
Jay-Z and his venture capital firm, Marcy Ventures Partners, have been on a roll with their hands in multiple business ventures.
The firm, co-founded by Hov, Jay Brown, and Larry Marcus have been very busy in 2021 as they invested in NBA player Chris Paul’s vegan cheese company as well as investing in the NFT industry.
According to a report from GeekWire on Friday (September 17), smart-home device company, Wyze, has benefited from a $110 million investment from the Jay-Z owned firm.
“We are doubling down and investing heavily to build world-class artificial intelligence into our camera products,” Wyze co-founder and Chief Marketing Officer Dave Crosby told GeekWire. “Just in the last year, our AI team has built person detection, vehicle detection, package detection and pet detection into our cameras. “Right now, we have AI features in the works that we truly think will be game-changing for any camera, let alone one that costs less than $36.”
Marcy Ventures Partners also plans on working with some companies in the fitness industry in the near future. Recently it was rumored that Jay was interested in partial ownership of the Denver Broncos, although the Brooklyn emcees team later denied those rumors.
Hov continues to break down barriers in both hip-hop culture and the business world. Fans of his can’t wait to see what will do next.