Jay-Z invests $1m in black-owned company

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Jay-Z invests $1m in black-owned company

The world’s first black billionaire resumes his philanthropic acts by investing in Partake Foods – a Black-owned company that makes vegan cookies that are mainly allergen-free.

Partake Foods was established by former Coca-Cola national sales director, Denise Woodard, in 2016, due to her daughter’s illness who was suffering from bad food allergies. All of the company’s products are said to be free from the top eight allergens in the United States and don’t contain gluten.

Partake foods which began three years ago also has Backstage Capital and investment firm The Factory, SoFi Venture, the chief growth officer of Beyond Meat Chuck Muth as one of its investors.

Some of the flavors offered without allergens are Birthday Cake, Sweet Potato, Carrot Oat, Double Chocolate Chip, and Double Chocolate.

During an interview in 2018, Woodard said, “I couldn’t find out how to make an egg-free cookie, gluten-free, corn-free, so I decided to buy one, but couldn’t find either.”

According to Entrepreneur reports, Partake Foods has spread across 300 stores and that the number is expected to triple by the close of 2019.

However, this isn’t the first time the black American rapper would be investing in such. The rapper had previously invested in Impossible Foods, the manufacturers of the Impossible Burger that’s currently sweeping the U.S. Trevor Noah, Serena Williams and Jaden Smith were investors as well.

Also, the richest rapper and his wife Beyoncé, partnered with the plant-based lifestyle company 22 Days Nutrition last year and launched a meal planner to make it easier for people to eat healthily.

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Speaking on the joint partnership, Beyonce said that “We want to challenge you as we challenge ourselves to draw closer to a more plant-based lifestyle. Meal Planner has made it easy and fun for me to develop healthier habits. I hope you love it as much as I do.”

Africh Royale

Africh Royale

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