Jay Z who is now a confirmed billionaire is continuing to build his portfolio and now he has invested in a black owned vegan company called Partake Company.
From Black Enterprises:
Partake Foods is a black-owned company that makes health-conscious food products. They recently closed a $1 million dollar round of seed funding.
Founder Denise Woodard launched the business after her young daughter was diagnosed with multiple food allergies and their family struggled to find snacks that were healthy, safe, and tasty
However, Woodard says it’s not just the allergy-prone that are customers. The brand appeals to the health-conscious, the gluten-free community, and vegans.
Initially funding her business through Kickstarter, Woodard left her position as director, national sales at Coca-Cola in their Venturing & Emerging Brands division to run Partake full-time.
In addition to the round of funding from Marcy Venture Partners, the consumer-focused VC fund co-founded by Jay-Z, Jay Brown, and Larry Marcus—Partake landed other investors including The Factory, Backstage Capital, SoFi Venture, and Chuck Muth—an executive with meat alternative company, Beyond Meat.
“When I left my career at Coca-Cola in 2017, I literally sold cookies out of my car for six months, demoing every day and meeting store managers and customers,” said Woodard via a press release.
“Our products can now be found in over 300 stores, and we expect to finish this year with a new pack offering and in over 1,000 stores. We are so excited to collaborate with the MVP and Factory teams, as they both bring a wealth of knowledge in brand building and scaling consumer companies.”
The mission of Marcy Venture Partners is to seek to identify, access, and nurture top-tier entrepreneurs and companies. The co-founders have a passion for building game-changing businesses and mass-market brands across consumer products and services, digital media and technology, so Partake Foods was a seamless fit.