JAY-Z Buys Into $500 Million K-Pop Investment Fund

JAY-Z has made a new, significant investment in K-pop. The famed rapper’s investment firm, MarcyPen Capital Partners, and Korea’s Hanwha Asset Management have formed a new $500 million fund aimed at expanding the reach of K-pop and Korean culture.

How it works:

• Hanwha signed the memorandum of understanding with MarcyPen on Tuesday.

• This deal established MarcyPen Asia to scale consumer and culture companies based in Korea and the entire Asian continent.

• MarcyPen is the majority investor in the fund.

• Hanwha will court investments from smaller firms and oversee the fund's operations.

What they said:

• Robbie Robinson, Managing Partner and Chief Executive Officer at MarcyPen: “South Korea is a cultural nexus of Asia, influencing global trends in beauty, content, food, entertainment, and lifestyle, making it the ideal gateway for our partnership with Hanwha.”

• Kim Jong-ho, Hanwha Asset Management CEO, to Financial Times: “Usually Korean companies use their own capital or corporate funds, but if there is third-party assistance, then our growth potential will be greater. This partnership lays the groundwork for Asian companies to pursue global opportunities.”