Wednesday, August 24, 2016
Kobe Bryant Launches $100 Million Venture Capital Fund -- Shares Investment Advice With Retired NBA Players
Former NBA professional basketball star, Kobe Bryant, may be retired from sports but he is anything but retired. His latest endeavor is creating an investment fund that will help media, technology, and data start-up companies over the next few years.
Bryant and his investor friend, Jeff Stibel, are launching a $100 million venture capital fund to help entrepreneurs in the media, technology and data industries. What is amazing is that they are launching the fund by themselves and asking for no assistance from outside investors. So, why would a former professional basketball star want to invest in start-up companies?
Why he's doing it
This is not the first time Bryant has been a venture capitalist. He and Stibel have already invested in 15 businesses together since 2013. In addition, Bryant's reasons are not to enhance the name Kobe Bryant but to add real value. He explained, "It’s that persistence, the entrepreneur doing what he or she truly believes in and truly loves to do.”
Sound like someone you know? Bryant admits he feels he has a real flair to choosing promising entrepreneurs. In addition, his competitive nature and insistence on doing things perfectly are bound to contribute immensely to his success with the new VC fund. Sounds like another win/win for Kobe Bryant, and for all the entrepreneurs his fund will support.
The venture capital fund is called Bryant Stibel, and will be based in Los Angeles, California.
His Advice to Other Retired NBA Players