Kobe Bryant may have retired from the NBA, but that hasn’t stopped him from trying to score — in investing, that is.
On Monday, the former basketball star announced his $100 million venture capital fund Bryant Stibel, named after him and partner Jeff Stibel, an entrepreneur and investor, Sports Illustrated reports. The duo intend to invest this $100 million the next several years and are not currently looking for outside investors, The Wall Street Journal reports.
The investments are aimed at the technology, media and data sectors.
So far, the fund is investing in The Players Tribune, a sports media website, video game designer Scopely and legal services firm LegalZoom.
Bryant explained to the Journal his thoughts on a possible rivalry between him and other retired athletes making business moves. “I think it’s interesting that the immediate reaction from people would be competitiveness between myself and others,” he said. “I’m more interested in how I can help Shaq [retired teammate Shaquille O’Neal], Melo [NBA player Carmelo Anthony] or [NBA player Andre] Iguodala.”
Celebrity endorsements and endeavors have proved infamous in the past, particularly when involving major consumer brands, much to the chagrin of health advocates. Bryant’s investment in at-home, cold-press juicer and juicing system Juicero, however, won’t likely raise too many eyebrows.
While the fund as a whole may be a boon from the looks of it, time will tell if these investments will actually pay off. Also consider the potential burnout legacy of retired athletes, like Curt Schilling’s video game company that filed for bankruptcy, the Journal notes.
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Can Kobe Bryant Score With $100 Million Venture Capital Investment? originally appeared on usnews.com
