Recently retired NBA star Kobe Bryant has launched a joint $100 million capital venture fund with Jeff Stibel.
Monday morning, according to The Wall Street Journal, Los Angeles Lakers legend Kobe Bryant announced one of his post basketball-playing career plans: he will be launching a $100 million venture capitalist fund, based in Los Angeles, with investor Jeff Stibel — who Bryant has invested with in 15 different companies since 2013.
The same report reveals that the $100 million fund the two are jointly starting to manage will be focused on tech, media, and data companies — and is expected to last “the next few years.”
Also, Bryant informed the WSJ:
It’s the inner belief that a person has that he will endure no matter what the obstacle may be. It’s that persistence, the entrepreneur doing what he or she truly believes in and truly loves to do
However, don’t jump to conclusions thinking Kobe will be using his popularity to be the face of the companies he’ll be investing in, Stibel quickly shot down that notion in the very same statement:
We don’t want to be in the business of investing in companies so someone can use Kobe as an endorser. That’s not interesting. The point is to add real value.
Bryant now joins New York Knicks’ forward Carmelo Anthony as a named partner of a fund in the venture capital tech realm, as the NBA All-Star currently oversees his own venture capitalist fund he founded in 2013 with his partner Stuart Goldfarb, named “Melo7 Tech Partners.”
Kobe’s Los Angeles-based company will be named “Bryant Stibel”.
Bryant retired following the 2015-16 regular season after a stellar 20-year NBA career.
He ended up with career averages of 25 points, 5.2 rebounds and 4.7 assists per game. Kobe won 5 NBA titles, was a two-time NBA Finals MVP, an 18-time All-Star, and made the All-NBA First Team 11 times.