When it comes to business acumen, JAY-Z has become the benchmark to which many rappers aspire to one day reach. Currently holding it down as one of hip-hop's few billionaires, Hov continues to expand his substantial portfolio, which recently brought cannabis brand MONOGRAM into the fold. Today, a new report indicates that the legendary rapper's Marcy Venture Partners has invested in Los Angeles-based fitness company LIT Method.
LIT Method, founded by Justin and Taylor Norris, is largely known for the LIT Strength Machine, an "all in one design that offers 500+ low-impact exercises including strength training, rowing, cardio, barre, physical therapy, and Pilates."
Kevin Mazur/Getty ImagesA statement from Marcy Venture Partners' co-founder Larry Marcus explained the firm's decision to connect with LIT Method in a statement. "Justin and Taylor are tenacious and adaptive entrepreneurs with so much drive and passion," he explains. "Their engaging content, motivating style, and innovative equipment are a winning combination." In addition to MVP, former Los Angeles Dodger slash MLB All-Star Adrian Gonzalez also invested in LIT Method.
As of now, the financial details have not been disclosed. Regardless, it's another savvy move from JAY-Z, who recently sealed a substantial partnership deal with Moët Hennessy that netted HOV up a reported $315 million, as per an estimate by Forbes. Having now set his sights on the fitness industry, following in the footsteps of his wife Beyoncé (who recently inked her own deal with Peloton), it's certainly exciting to speculate on where JAY-Z and the Marcy Venture Partners will go next.