Jay Z is joining his wife in the style and wonder investor space. 

ESSENCE recently reported that Beyonce joined Rihanna and others as an investor in a French women’s apparel brand—now it has been reported that Jay-Z is backing premier beauty brand Madison Reed in an investment totaling $33 million, based on Bloomberg. 

Led by Sandbridge Capital and Jay-Z firm Marcy Enterprise Partners, the investment totaled nearly $220 million.

Madison Reed plans to make use of the funding to assist launch a Hair Color Bar expansion and retail locations resembling Ulta and Ulta Beauty at Goal. Moreover, the brand goals to expand its development for Madison-Reed.com and Amazon.com. 

“Our business is the epitome of omnichannel, customers know our brand, they see the identical products that we’re known for within the direct-to-consumer line as we now have in our own Hair Color Bars and in our partner locations,” founder and CEO of Madison Reed’s Amy Errett said to Forbes. 

Its plan is to expand to 80 locations, hire  850 latest colorists and reach customers inNew York City, South Florida, California, Chicago, Washington D.C., and Texas inside the 12 months.

This isn’t Jay-Z’s first go-round in beauty investing. 

In 2021, the prolific businessman joined L Catterton and Sonoma Brands to take part in a $20 million Series A round for MERIT. The corporate is described as a clean, luxury beauty brand inspired by minimalism. Founded by Katherine Power in 2021, MERIT was created to reimagine luxury beauty by making it clean, well-edited, and accessible. 

It was reportedly the most important Series A raised by a enterprise capital-backed company in the wonder and cosmetic sector in 2021, based on Crunchbase News.