Dive Brief:
The venture capital arm of Constellation Brands will take a minority stake in La Fete du Rosé as part of its Focus on Minority Founders initiative, the company announced this week. This initiative aims to give $100 million to Black, Latinx, and minority-owned businesses by 2030. Terms of the deal were not specified, but La Fete’s CEO Donae Burston told CNBC the funds will be used to expand staff and production.
The 2-year-old Black-owned brand focuses on targeting consumers that are normally looked over, and donating profits to help more BIPOC get into the wine and spirits industry. This new deal will allow the rosé brand to reach more customers, while Constellation will have the opportunity to work with untapped markets.
JAY-Z Enters the NFT World in $19 Million USD Funding Round for Platform Bitski: The hip-hop mogul simultaneously files for a new trademark for a new entertainment production company.
JAY-Z’s quest to be the biggest tycoon Hip Hop has ever continues through the digital economy’s hottest buzz item of the moment.
As the 51-year-old Hip Hop legend’s new TV deal is being finalized, TechCrunch is reporting that JAY-Z and his Marcy Venture Partners is among several investors who contributed to a $19 million dollar funding round for Bitski, a start-up based in San Francisco that specializes in giving companies NFT branding.
Alongside JAY-Z, other high-profile investors include Roc Nation’s Jay Brown, music mogul Troy Carter, Serena Williams, Endeavor CEO Ari Emanuel, 3LAU, and venture firm Andreessen Horowitz (a16z).
Hov’s S. Carter Enterprises filed to trademark “2/J” on for the purpose of “entertainment services in the nature of creation, development, and production.”
Jay-Z s Marcy Venture Partners Joins $19M Funding Round for NFT Platform
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According to reports, Jay-Z is hopping into the world of NFTs, as the mogul and his Marcy Venture Partners have joined a $19 million funding round for an NFT marketplace called Bitski.
The start-up is based out of San Francisco, and the team of investors includes Roc Nation co-founder Jay Brown, Troy Carter, Ari Emanuel, and more. The marketplace described their venture as “Shopify for NFTs,” and it was noted their aim is to create an easy platform for consumers, game developers, and brands to sell and buy digital goods all in one area.