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Venture Capital
FINANCE | Investment Firms & Funds
marcyvp.com

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Investments

33

Funds

3

About Marcy Venture Partners

Marcy Venture Partners is a venture capital firm co-founded by Larry Marcus, Jay Brown, and Shawn "JAY-Z" Carter.

Marcy Venture Partners Headquarter Location

750 Battery St Suite 700

San Francisco, California, 94111,

United States

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Latest Marcy Venture Partners News

Altro (Formerly Known as Perch) Raises $18M in Funding to Enable 63M Americans to 'Netflix-and-Build Better Credit'

May 12, 2022

Backed by Jay-Z’s Marcy Venture Partners and Pendulum, the free credit-building and financial literacy app rebrands itself as “Altro”; secures funding to democratize credit building for all through alt forms of payment history like Netflix, Spotify, and Hulu subscriptions The new funding will be used to build the company’s financial literacy catalog/educational offerings and reach new users looking to build or repair credit San Francisco, Calif. – WEBWIRE – Thursday, May 12, 2022 Altro (formerly known as Perch), the no-cost platform that helps people build credit through nontraditional payments, today announced $18 million in Series A funding led by Pendulum, with participation from Jay-Z’s Marcy Ventures, as well as Citi Ventures, Black Capital Fund, and Concrete Rose Fund, and individual investors such as Dick Parsons (Equity Alliance, RNR) and Deborah Quazzo (GSV Ventures), among others. The new funds will build its growing credit and financial literacy program and bring education and financial power to those widely excluded from traditional finance systems. The company is also announcing its rebrand to Altro — which means “other,” translated from Italian — effective immediately. Approximately 63 million Americans are unbanked or underbanked, leaving them with little access to mainstream banking services such as credit cards or loans. For younger generations, in particular, this creates a paradoxical problem: in order to get a credit card or apply for a loan, one first needs to build credit. Altro, which allows users to build credit through recurring payment forms like digital subscriptions (Netflix, Spotify, Hulu and more), is offering an alternative so that anyone can build and improve credit from existing spending habits. “With all the other available data to demonstrate a person’s fiscal responsibility, there’s no excuse to continue to rely on outdated methods like credit cards and loan payments, which are predatory and exclusionary at best,“ said Altro co-founder and CEO Michael Broughton. ”Perch has proven the demand for more accessible forms of credit building, and now as Altro, we’re creating a movement, bringing financial empowerment to all" Altro users can see an increase in their credit scores in less time than traditional means of building credit for the same results. In addition to boosting credit scores, Altro is focused on educating users through its vast catalog of educational audio clips. The 350+ snippets cover topics like cryptocurrency, investing, and trading, which not only allow users to become more financially savvy, but also positively impact users’ scores the more they engage. “Contemporary fintech has traditionally been designed by and for individuals with strong financial health, a thinking that leaves many behind. Created by a team who experienced this problem firsthand, Altro has developed a financial empowerment platform that unlocks economic opportunity for those that the credit building system hasn’t been built for,” said Rish Sinha, Managing Director at Pendulum. The app, which launched as Perch in 2020, shot to the top 10 in the App Store amid a surge in sign-ups — amassing a 200,000 person waitlist — validating the need for a modernized, accessible approach to credit building. The Series A funding round brings Altro’s total funding to $21 million. Participating subscriptions services include but are not limited to:  Netflix, Youtube Premium, Dollar Shave Club, Adobe Creative Cloud, Nintendo Online, Apple Music, SoundCloud, Chegg, Crunchyroll, Audible, Sun Basket, Hulu, Spotify, Home Chef, Xbox Live, HelloFresh, Barkbox, Amazon Prime, CBS All Access, LinkedIn Premium, Coursera, PlayStation Live, HBO Max, Disney Plus, Blue Apron, Curology, FabFitFun, ESPN Plus, LeetCode, Birchbox, Ipsy and Billie To learn more about Altro’s approach to democratizing credit building, visit altro.com . Download on the iOS App Store and pre-register on the Google Play Store. About Altro (formerly Perch):  Altro combats the frustrating process of credit building by leveraging nontraditional data such as other recurring expenses to help establish or enhance one’s credit score. Backed by Marcy Ventures, Pendulum, Citi Ventures, Black Capital Fund, Concrete Rose Fund, along with other global investors, Altro has something for anyone working on their financial goals — from saving money to learning the finer points of financial literacy — available all for free. Altro was founded in 2019 as Perch and is based in San Francisco. To learn more about how Altro is removing the barriers to credit building, visit altro.io . WebWireID288994

Marcy Venture Partners Investments

33 Investments

Marcy Venture Partners has made 33 investments. Their latest investment was in Altro as part of their Series A on May 5, 2022.

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Marcy Venture Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

5/12/2022

Series A

Altro

$18M

No

2

4/28/2022

Unattributed VC

Madison Reed

$33M

Yes

2

1/28/2022

Seed VC

Unblocked

$10M

Yes

6

1/26/2022

Series C

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$99M

Subscribe to see more

10

12/14/2021

Series B

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$99M

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10

Date

5/12/2022

4/28/2022

1/28/2022

1/26/2022

12/14/2021

Round

Series A

Unattributed VC

Seed VC

Series C

Series B

Company

Altro

Madison Reed

Unblocked

Subscribe to see more

Subscribe to see more

Amount

$18M

$33M

$10M

$99M

$99M

New?

No

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

2

2

6

10

10

Marcy Venture Partners Fund History

3 Fund Histories

Marcy Venture Partners has 3 funds, including Marcy Venture Partners Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

10/26/2021

Marcy Venture Partners Fund II

$325M

1

2/18/2020

Marcy Venture Partners Fund

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Subscribe to see more

$99M

10

7/11/2019

MVP Culture Opportunity Fund LP

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$99M

10

Closing Date

10/26/2021

2/18/2020

7/11/2019

Fund

Marcy Venture Partners Fund II

Marcy Venture Partners Fund

MVP Culture Opportunity Fund LP

Fund Type

Subscribe to see more

Subscribe to see more

Status

Subscribe to see more

Subscribe to see more

Amount

$325M

$99M

$99M

Sources

1

10

10

Marcy Venture Partners Team

2 Team Members

Marcy Venture Partners has 2 team members, including current Founder, Managing Director, Lawrence D. Marcus.

Name

Work History

Title

Status

Lawrence D. Marcus

Founder, Managing Director

Current

Marcy de Soultrait

Founder

Current

Name

Lawrence D. Marcus

Marcy de Soultrait

Work History

Title

Founder, Managing Director

Founder

Status

Current

Current

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