Rumors swirled last year that Jay-Z and Roc Nation CEO Jay Brown were looking to launch a venture capital firm. A report in TechCrunch last February claimed they would focus on seed investments in young startups. The firm appears to be in the works this month, as regulatory filings were made in California from Larry Marcus (of Walden Venture Capital in San Francisco, who has invested in companies such as Pandora) for a firm called Marcy Venture Partners.

This wouldn’t be the first time Jay-Z was involved in backing startups, as he’s already created the RocNation platform Arrive and invested in startups such as private plane company JetSmarter and even the luggage brand Away.