The popular and now retired basketball player Kobe Bryant has established a $100 million venture capital fund that will invest in technology, media and data companies.
According to the Wall Street Journal, Kobe Bryant has partnered with technology entrepreneur and investor Jeff Stibel, naming the fund Bryant Stibel, and basing it in Los Angeles. As of right now the two investors have already invested in 15 businesses since 2013, one of which is the popular sports media website The Players Tribune, telemarketing software company RingDNA, and a video game design company called Scopely.
In an interview Mr. Stibel said, “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.” Stibel began his career in brain research before funding tech companies.
Bryant added, “If you would have asked me 10 years ago, I would say I need to win now… Age tends to give you perspective. The most important thing I enjoy now is helping others be successful. I enjoy doing that much more, that’s something that lasts forever, and hope they do that for the next generation.”