Kobe Bryant, a legendary basketball player, now has a new business project.
He collaborated with Jeff Stibel to form a venture capital fund worth$100 million. The company will have its headquarters in Los Angeles and it will invest in media and technology.
It will also invest in data firms. This business relationship between Bryant and Stibel did not start in 2016. Rather, the two have invested in over 15 companies since first meeting in 2013.
These companies include LegalZoom, the Player’s Tribune, and Juicero.
The two partners have distinct roles to play. Kobe Bryant will help the fund when it comes to marketing products and services it supports. Bryant will also offer invaluable service to the firm when it comes to branding its logo.
Bryant is now months into his retirement so nothing will hold him back from dedicating his energy to this new firm completely. On the other hand, Jeff Stibel has a lot of experience in managing entrepreneurial ventures, and as such, he will steer the company in the right direction.
It is important to note that Kobe Bryant is enthusiastic about business and other activities aside from basketball.
For example, he ventured into the music industry as a rapper in the late 90s under Sony Entertainment. He invested in a sports drink business in 2014.
His ambition knows no bounds and he is always willing to try something new. He also told the Wall Street Journal that he enjoys helping others. He also told the Journal that he wished sports players would be less competitive in the business arena than they are now.
Instead, they should help each other succeed and that is his intention.
PUBLIC NOTE: The opinions expressed in this article are the author's own and do not reflect the view of the Urban Intellectuals, affiliates or partners.