Kobe Bryant, Investor Jeff Stibel Launch $100M Venture Capital Fund

Former NBA star Kobe Bryant has set up a $100 million venture capital fund that will make investments in technology, media, and data companies, The Wall Street Journal reported Monday.

Kobe Bryant, Investor Jeff Stibel Launch $100M Venture Capital Fund

As part of the project, Bryant has teamed up with tech entrepreneur and investor Jeff Stibel to launch Bryant Stibel, which will be based in Los Angeles.

They are not currently seeking outside funding.

The pair have already invested in 15 businesses together since 2013, including the sports media website The Players Tribune, the telemarketing software company RingDNA, and the video game design firm Scopely.

Bryant and Stibel are hoping the fund provide a complimentary mix of their skill-sets. Sibel is probably best known as the former chief executive of the public tech company Web.com. He has also founded several other tech and marketing companies and is a brain scientist.

Bryant is expected to offer his creative and marketing experience. He even designed the fund’s logo.

In an interview with The Journal, Bryant noted that people may draw the comparison between his fund and that of New York Knicks star and recent U.S. Men’s basketball Olympic winner Carmelo Anthony, who set up early-stage investment fund Melo7 Tech Partners, or of his former Los Angeles Lakers teammate Shaquille O’Neal, who has also made a series of investments in technology and media startups.

Bryant said: “I think it’s interesting that the immediate reaction from people would be competitiveness between myself and others. I’m more interested in how I can help Shaq, Melo, or [NBA player Andre] Iguodala.”

The company went public Monday, just one day before Bryant’s 38th birthday, when the former Lakers star rang the New York Stock Exchange bell and told CNBC’s “Squawk on the Street” about his three-year-old venture.

Bryant, who retired from the NBA earlier this year, said that investing is one of his passions. “This is where it’s at for me,” he said.

On “Squawk on the Street,” Bryant said he hopes his legacy will be for investing, rather than basketball.

“Playing basketball, the focus is always on winning — winning championships, winning championships, winning championships,” Bryant said. “Now, championships come and go… But if you really want to create something that lasts generations, you have to help inspire the next generation… That’s when you create something forever. And that’s what’s most beautiful.”

Of Bryant, Stibel told CNNMoney, “We are very much equal partners.” He specified, however, that their roles differ. “Kobe focuses on leadership, inspiration, storytelling,” while Stibel primarily handles “operations, strategic directions for companies,” and growth.

The fund’s website states it aims to focus its investments in the sports and wellness fields.

BEVERLY HILLS, CA – MAY 03: Retired NBA Champion, CEO, Kobe Inc., Kobe Bryant speaks onstage during 2016 Milken Institute Global Conference at The Beverly Hilton on May 03, 2016 in Beverly Hills, California. (Photo by Alberto E. Rodriguez/Getty Images)

Article by Pablo Mena