JAY-Z has his hands in many different business ventures and it looks like he has his eyes set on another investment. On Tuesday (April 27), Page Six reported JAY-Z’s investment firm, Marcy Venture Partners, would be teaming up with former MLB baseball player Adrian Gonzalez to invest in Los Angeles-based fitness company LIT Method.
Justin and Taylor Norris founded the fitness company after launching their LIT Strength Machine, an all-in-one water rower, Pilates reformer and resistance band training system in May 2020. The powerless machine specializes in high-intensity, low-impact training (LIT) and offers 500 plus exercises, including rowing, barre, strength training, physical therapy, and Pilates.
“Justin and Taylor are tenacious and adaptive entrepreneurs with so much drive and passion. Their engaging content, motivating style, and innovative equipment are a winning combination,” said Larry Marcus, co-founder and managing director of Marcy Venture Partners, in a statement.
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Justin and Taylor Norris added, “Having Marcy Venture and Adrian Gonzalez as partners in this mission means we can support the growing demand for the machine, expand our product line, and make our method accessible to people across the country.”
JAY-Z’s investment comes months after he made a few big-time deals with some of his products. In February, the Hip Hop mogul sold half of his champagne brand, Armand de Brignac, to Moët Hennessy, the wine and spirits section of the luxury giant LVMH.
The following month, JAY-Z shocked everyone again when Square, Inc. announced it’d reached an agreement to purchase majority ownership in TIDAL. In return, Hov will join Square’s board of directors.