Jay-Z’s MarcyPen Capital Partners has signed a memorandum of understanding with South Korea’s Hanwha Asset Management to launch a $500 million “K-culture” investment fund.
Via the fund, the companies plan to “accelerate the global expansion of K-culture and lifestyle industries.”
The news arrives amid the global surge in Korean culture and entertainment, popularized by superstar K-pop acts such as BTS and Stray Kids, as well as entertainment brands like Netflix‘s Squid Game series, the wildly successful K-pop Demon Hunters animated film, and its blockbuster soundtrack.
MarcyPen is a private equity firm formed in September 2024 from the merger of Jay-Z’s Marcy Venture Partners and Pendulum Holdings’ investment arm Pendulum Opportunities.
Marcy Venture Partners was founded in 2018 by Jay-Z, Roc Nation co-founder Jay Brown, and venture capitalist Larry Marcus, while Pendulum Holdings was founded in 2019 by Robbie Robinson — a former financial advisor to President Barack Obama.
The firm, which manages over $900 million in assets, announced the agreement with Hanwha during Abu Dhabi Finance Week 2025.
The announcement noted that MarcyPen brings “extensive experience” in consumer-facing businesses, including entertainment companies and beauty brands.
The partnership with Hanwha positions the firm to identify and support “high-potential Asian companies” seeking global expansion.
Under the MOU, both companies will collaborate to identify investment opportunities in “innovative companies” across the region.
The partnership marks a significant collaboration between the US-based investment company and a prominent South Korean asset management firm.
As of the end of 2024, Hanwha had USD $70.55 billion in assets under management (AUM).
“K-culture and lifestyle industries are reshaping consumer trends around the world.”
Jong-Ho (James) Kim, Hanwha Asset Management.
“K-culture and lifestyle industries are reshaping consumer trends around the world,” said Jong-Ho (James) Kim, CEO of Hanwha Asset Management.
“This MOU lays an important groundwork for us to support high-potential Asian companies as they advance onto the global stage.
“Leveraging our experience and investment expertise throughout Asian markets, Hanwha Asset Management is committed to delivering steady, practical support for Korean and Asian companies aiming to expand globally.”
“South Korea has become a cultural hub in Asia, influencing global trends across beauty, content, food, entertainment, and lifestyle.”
Robbie Robinson, MarcyPen
Robbie Robinson, CEO of MarcyPen, emphasized the strategic positioning of South Korea in the global cultural landscape. “South Korea has become a cultural hub in Asia, influencing global trends across beauty, content, food, entertainment, and lifestyle,” he said.
“Through the collaboration we began at ADFW 2025, we look forward to identifying new investment opportunities in innovative companies across the region.”
Music Business Worldwide