Ghana: Jay-Z backs Iddris Sandu’s tech incubator

MVP was founded in 2019 as a venture capital firm with an interest in entertainment, sports and brands with capital expertise. The company backs startups and mass-market brands catering to cultural products, services, digital media and technology.

The partnership will see both companies explore the intersection of tech, culture and humanity. Sandu will first outdoor LNQ, a blockchain-enabled platform that “aims to make the metaverse more accessible and provide creators with decentralised tools to engage with their communities through LNQ’s proprietary, real-time processing stack.”

“Iddris has a conscious world view and a youth-centric vision that is innovative and refreshing to witness,” Jay-Z said in a statement. “We share similar parallels in how we imagine impacting people in our lifetime. Partnering with him on this journey and others is very exciting.”

For his part, Sandu said: “JAY-Z has always been at the forefront of cultural evolution and identifying the next leaders. Aligning with Marcy Venture Partners assists with our vision for elevating the youth as it relates to access and a means to true technological empowerment.

“The lasting impact of this relationship is not simply defined by the work we’re doing now, but by the immeasurable impact for generations of creators to come.”

The deal adds to Sandu’s growing list of professional accomplishments, which began at the age of 13. Now 24 years old, the technologist has worked with global brands including Apple, Google, Facebook, Adidas and Nike. SLABS has also previously collaborated with Beyoncé’s Ivy Park, Nipsey Hussle’s The Marathon Clothing Store, Rihanna’s Fenty line and Kanye West’s Yeezy brand.

The deal comes on the heels of MVP’s recent stake in San Francisco-based startup NFT marketplace Bitski, as part of a $19m investment which included other investors like Roc Nation co-founder Jay Brown, Troy Carter, Endeavor CEO Ari Emanuel, 3LAU and Andreessen Horowitz.