Nationwide — Jay-Z is stepping into the global K-Pop market with a $500 million investment fund. His firm, MarcyPen Capital Partners, is partnering with South Korea’s Hanwha Asset Management to help lifestyle and entertainment brands expand worldwide.
The fund will target Korean businesses in music, beauty, food, and fashion, as reported by the Financial Times. MarcyPen brings expertise in lifestyle and consumer brands, while Hanwha will identify companies ready for international growth. Together, they aim to turn Korea’s cultural influence into global business opportunities.
K-pop and Korean media have surged in popularity, with groups like BTS and Blackpink filling arenas around the world and shows like Squid Game and KPop Demon Hunters dominating streaming platforms. The “Korean wave,” or hallyu, has grown into a $31 billion export industry, covering entertainment, fashion, and beauty.
South Korea has long invested in cultural exports to boost its economy and global influence. Private equity, however, has rarely backed Korean lifestyle and entertainment ventures seeking international reach. This fund represents one of the first major efforts to combine local expertise with global investment.
Founded in 2024, MarcyPen manages $1.1 billion and has invested in brands like Merit Beauty and Rael. Robbie Robinson, MarcyPen’s CEO, described South Korea as a “cultural nexus of Asia,” noting its growing impact on worldwide trends. The fund plans to start raising capital next year from institutional investors and wealthy individuals.