Kobe Bryant starts $100 million investment fund

The latest to get into the game is Kobe Bryant, who has teamed up with investor and entrepreneur Jeff Stibel, to form a new firm, called Bryant Stibel.

Kobe Bryant has entered the world of finance in a big way.

NBA Hall Of Famer… venture capitalist. His new job: overseeing a $100 million venture capital fund.

Kobe went on to explain that, while others National Basketball Association players like Carmelo Anthony, Andre Iguodala, and his former teammate Shaquille O’Neal have launched similar ventures, he has no desire to compete directly with any of them. Bryant Stibel, as they’ve named the fund, will focus on technology, media and data companies. The report says that both of them have chose to name their firm Bryant Stibel, which will be based in LA. At the moment, the two cofounders are investing their own money into the company, with no outside investors.

“Championships come and go”, he said.

Kobe Bryant retired from professional basketball this year, but he’s still ready to drop a dime.

If you really want to create something that lasts generations, you have to help inspire the next generation, right? And that’s when you create something forever.

Bryant is just the latest retired athlete to use their wealth to become an investor. “And that’s what’s most attractive”, he said. The two co-founders have informally invested alongside each other in 15 companies since 2013. Stibel added that they’re interested in companies that can grow industries and maybe become the behemoths that are Fortune 500 companies. When Sacca asked why, Bryant-who was drafted 13th overall in the 1996 NBA Draft-replied, “Can you believe they drafted 12 other motherf***ers before me?” Unsurprisingly, Bryant Stibel will be operating out of Los Angeles, reflecting Kobe’s 2 decade long career, which he spent playing with the Los Angeles Lakers.