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
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Posted by community events coordinator, Nzinga Lonstein Austin, is a prolific blogger who writes on the entertainment industry and issues for people with developmental and physical challenges.She is presently in high school looking to have a career in video, film, and media. You can see more of her entertainment writing on Lonstein Movies.
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