Jay-Z's private equity outfit MarcyPen teamed up with South Korean asset manager Hanwha to drop a $500 million fund aimed at boosting Korean culture brands worldwide. MarcyPen handles over $900 million in assets after merging Jay-Z's Marcy Venture Partners with Pendulum Holdings back in September, and Hanwha brings about $70 billion under management to the table.
The fund targets companies in entertainment, beauty, food, and lifestyle that want to scale globally off the back of K-pop and shows like Squid Game blowing up everywhere. Both sides plan to hunt for high-potential Asian businesses ready to make moves internationally, with MarcyPen bringing experience in consumer-facing ventures and Hanwha offering deep connections across Asian markets.
The fund targets companies in entertainment, beauty, food, and lifestyle that want to scale globally off the back of K-pop and shows like Squid Game blowing up everywhere. Both sides plan to hunt for high-potential Asian businesses ready to make moves internationally, with MarcyPen bringing experience in consumer-facing ventures and Hanwha offering deep connections across Asian markets.
