JAY-Z is no stranger to big investments, and he's just added another company to his already impressive business repertoire. Airbnb-like camping app Hipcamp announced on Thursday that it has taken $25 millon in its latest round of fundraising, and among those investors is JAY-Z's Marcy Venture Partners and Will Smith's Dreamers VC fund.
Marcy Venture Partners is co-founded by Shawn Carter himself, Jay Brown, and Larry Marcus. "Hipcamp is on the forefront of culture, creating meaningful and joyful experiences with the outdoors," said Marcus. "While mobile devices and technology enables their marketplace of unique camping sites, Hipcamp experiences provide a welcome respite from those very devices. Their ethos of creating an inclusive community that values the environment, preservation, and the great outdoors makes them an ideal partner to our firm. We are thrilled to be partnered with Alyssa and the team to help grow their business."
The app was designed with getting as many people enjoying the outdoors as possible, providing users with unique locations regardless of whether they have the equipment or not. Their services ranges from cabins in the middle of the woods to tents just about anywhere, with hosts providing the spots just like with Airbnb.
"Spending more time outside has an undeniable, positive impact on people’s lives, and we’re so excited to support Hipcamp in their mission to get more people enjoying fresh air," added Dreamers managing partner Kosaku Yada.
Of course, this isn't the only big business move JAY-Z has made this past week. On Wednesday it was announced that the NFL had partnered with JAY-Z and Roc Nation.
Nessa Diab, whose partner is activist/free agent Colin Kaepernick, expressed her disappointment in the deal, as did many others. Needless to say, Hipcamp isn't likely to upset any longtime fans in the same way.