Jay-Z’s Latest Investment Is A Vegan Cookie Company
The news of Jay-Z officially becoming a billionaire is still fresh in everyone’s mind, and just like always, the rap mogul is already on to the next one as he continues to expand his business portfolio.
The rapper’s venture capital firm Marcy Venture Partners led a $1 million seed funding round with a company that specializes in making vegan cookies. The company, Partake Foods, is a Black-owned start-up that makes health-conscious food products and specializes in producing food items that are free of the United State’s top eight allergens. According to reports, other notable investors in Partake Foods’ first major round of funding include The Factory, Backstage Capital, SoFi Venture, and Chuck Muth.
This latest investment is not the first time Shawn Carter has backed a plant-based company. The Brooklyn native recently invested in Impossible Foods’ fifth equity funding round along with a slew of other celebrities. The company, known for its meatless hamburger patty, raised a total of $300 million.
Jay isn’t new to this whole vegan thing, either. Along with his wife, Beyoncé, Hov co-owns 22 Days Nutrition, a company designed to encourage others to commit to a 22-day vegan challenge. The couple, who primarily eats mostly plant-based, have been vocal enthusiasts of the vegan lifestyle, with Bey publicly adapting a strict plant-based diet to prepare for her iconic Coachella performance in 2018.
As for Partake Foods, the company was founded back in 2016 by former Coca-Cola national sales director, Denise Woodard. The decision to start her own company was directly inspired by her daughter developing a severe allergy to several foods.
“I couldn’t figure out how to make a gluten-free, corn-free, egg-free cookie, so I went to buy one, but couldn’t find any,” Woodard said to People at the time. The cookies that they make are completely vegan and are free of peanuts, tree nuts, eggs, milk, soy, gluten, fish and shellfish, as well as are non-GMO, free of artificial flavors, and free of preservatives.
Partake Foods can be found in over 300 stores and are expected to more than triple that number by the end of the year.