Image credit: SIMULATE

Brief: Jay-Z fund backs plant-based NUGGS maker Simulate

June 18, 2021

  • Marcy Venture Partners, a VC firm founded by music moguls Shawn ‘Jay-Z’ Carter and Jay Brown alongside Walden Venture Capital‘s Larry Marcus, has invested in plant-based protein startup Simulate, Bloomberg reports.
  • New York-based Simulate — which produces chicken analogs NUGGS and DISCS — closed its Series B round earlier this month, securing $50 million in funding from Reddit co-founder Alexis Ohanian’s Seven Seven Six and frozen foods giant McCain, among others [disclosure: AFN‘s parent company, AgFunder, is an investor in Simulate.]
  • A Simulate spokesperson confirmed Marcy Venture Partners’ participation in the round — which valued the startup at $250 million — but did not detail the size of the firm’s investment.

Why it matters:

Hip hop star Jay-Z has backed a number of agrifoodtech ventures – either in his capacity as an individual investor, or through Marcy Ventures Partners and Arrive – the VC arm of his Roc Nation label.

He, Brown, and Ohanian are investors in plant-based patty maker Impossible Foods alongside a host of other celebrities including Serena Williams, Katy Perry, and Trevor Noah.

Jay-Z also invested in alt-dairy company Oatly along with Oprah Winfrey and Natalie Portman before it went public last month.

Find out why AgFunder invested in Simulate here

Marcy Venture Partners’ other food-related portfolio companies include vegan cookie brand Partake Foods.

Arrive has invested in US grab-and-go salad chain Sweetgreen and Indonesian ‘new retail’ coffee concept Kopi Kenangan, among others.

Join the Newsletter

Get the latest news & research from AFN and AgFunder in your inbox.

Share on email
Share on twitter
Share on facebook
Share on linkedin
Share on reddit
Share on whatsapp
Share on skype
Join the Newsletter
Get the latest news and research from AFN & AgFunder in your inbox.

Follow us:

Join Newsletter