JAY-Z is expanding his vegan foods portfolio and tapping into a market that’s expected to explode in the next few years.
Through his firm Marcy Venture Partners, JAY-Z brought money to the table to support Misha’s Kind Foods. It’s a dairy-free cheese company located in Los Angeles. JAY-Z, along with NBA star Chris Paul and other investors, participated in a $3 million seed round for Misha’s Kind Foods this month.
“These investors, and their enthusiasm, not only confirm the quality and excellence of our artisan cheeses, but they also align with our long-term vision and mission,” said Aaron Bullock, CEO and co-founder of Misha’s Kind Foods in a statement. “We are here to serve the large community of cheese lovers, plant-based and not. Everything we make is kind to your body, kind to the planet, and kind to your wallet.”
JAY-Z and Chris Paul Invest in Vegan Cheese Company
Misha’s began operating in 2018. Founded by Chef Ian Martin and Aaron Bullock, the company is committed to providing plant-based dairy alternatives.
Misha’s carries eight different kinds of cheese on the company website. You can find Black Truffle, Smoked Cheddar, Sari, French Connection, Joi, Lox, Seven Point Five, and Ricotta. The non-dairy cheeses are made from organic cashew and almond milk. They are also blended with fresh herbs, vegetables, and spices to provide a fine taste that non-dairy consumers enjoy.
The company makes everything gluten-free, keto, paleo, lactose-free, and 100% vegan. There are no nutritional yeasts, vegetable oils, starches, or soy.
Misha’s mission is to “serve all people by cultivating and producing the most delicious, health-conscious Dairy Alternative Foods across the globe.” The multi-million dollar investment will help the company hire more people, invest in product development, and plan for retail expansion.
“The mission of Misha’s directly aligns with our values,” Marcy co-founder Jay Brown said in a statement. “When we first discovered Misha’s we found some immediate synergies. We embrace companies that value sustainability, empowerment, inclusivity, accessibility, convenience, health and wellness, and personal expression.”
According to Meticulous Research, the plant-based foods market is projected to hit $74 billion by 2027. The plant-based dairy market alone is expected to reach $45 billion.
JAY-Z is well-positioned to take advantage of the industry’s expected growth. His venture fund participated in Impossible Foods $300 million investment round in 2019. He also led Partake Foods’ $1 million investment round. This year, the music icon backed plant-based chicken startup, SIMULATE.
Jay-Z’s investments reflect his optimism towards the vegan food industry. These are only a few of the investments that have captured Jay-Z’s attention. There’s no doubt that the list will continue to grow as plant-based foods become mainstream.