Photo Credit: MarcyPen Capital Partners
Jay-Z enters into a partnership with Korea’s Hanwha Asset Management to form a $500 million joint venture fund for K-pop and Korean culture expansion.
Jay-Z’s investment firm, MarcyPen Capital Partners, has partnered up with Korea’s Hanwha Asset Management to tap surging global demand for K-pop and other Korean culture through a $500 million joint venture fund.
On Tuesday, Hanwha said it signed a memorandum of understanding with the U.S. private equity firm, which is backed by the rapper and businessman, to support the global expansion of high-potential companies in Korean lifestyle and culture. The agreement was signed on Monday during Abu Dhabi Finance Week 2025 in Dubai.
In their own statement, MarcyPen said the firms would establish MarcyPen Asia, an investment vehicle targeting high-growth consumer and culture companies in Korea and across Asia to help with global scalability. Hanwha said the fund aims to raise $500 million, with MarcyPen as the majority investor; Hanwha will lead in identifying aspiring small firms and the overall operations of the fund.
In recent years, Korean culture has surged in global traction, led by bands such as BTS and Blackpink, and productions like KPop Demon Hunters. That momentum has extended far beyond entertainment and into Korean beauty, food, and lifestyle brands, with companies in those sectors notching record earnings on accelerated demand across worldwide markets.
“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,” said Robbie Robinson, managing partner and chief executive officer at MarcyPen.
“Usually Korean companies use their own capital or corporate funds, but if there is third-party assistance, then our growth potential will be greater,” said Hanwha Asset Management CEO Kim Jong-ho in a statement to Financial Times. “This partnership lays the groundwork for Asian companies to pursue global opportunities.”
Founded in 2024, MarcyPen resulted from the merger of Marcy Venture Partners, co-founded by Jay-Z, and Pendulum Opportunities, the investment arm of Pendulum Holdings. The U.S.-based firm now manages around $1 billion with a focus on strategic capital for early-stage consumer and innovative businesses moving the culture.
Hanwha Asset Management oversees around $82 billion (120 trillion won) as part of Hanwha Group, which has major operations across energy, defense, construction, and finance. With global operations in New York, San Francisco, and Singapore, through the new partnership, the firm aims to build an investment framework connecting Korea and Asian consumer and lifestyle companies with global capital.
The two firms plan to begin raising capital from international investors, sovereign wealth funds, and individuals in the second half of 2026.
