By Edward Henderson
The last time we saw Kobe Bryant on the court he dropped 60 points in his farewell game. For a fierce competitor like Bryant, I expected him to make waves as he entered into his next career after basketball. The first big move Bryant has made is on Wall Street. This week, he and investor, Jeff Stibel launched a $100 million dollar venture capitalist fund investing in technology, media and data companies.
Venture capital funds are investment funds that manage the money of investors who seek private equity stakes in startup and small- to medium-sized enterprises with strong growth potential. These investments are generally characterized as high-risk/high-return opportunities. In the past, venture capital investments were only accessible to professional venture capitalists, although now accredited investors have a greater ability to take part in venture capital investments.
“There’s no greater feeling than actually helping entrepreneurs be successful,” Bryant said in an interview with CSNBC. “This and storytelling are my passions. We’re absolutely one gear, laser focused and ready to go.”
I’ve honestly haven’t shown much interest in the stock market throughout my life. Recently my father has taken interest in trading and his fanfare has dominated our conversations recently. His excitement has tempted me to take a closer look myself. What Bryant’s recent involvement does is put the stock market on the radar of minority communities.
Bryant was almost deified for his time with the Lakers and attaching his name to the market has a similar affect to when Jay-Z raps about fine art and Jean-Michel Basquiat. This type of art wasn’t in the collective consciousness of our communities until he started rapping about it. Now you see young people with Basquiat crowns on t-shirts and hats. Maybe Bryant will have the same effect with this financial move.
When the companies that the fund sponsors go public, the everyday investor will be able to get involved with what Bryant and Stibel have helped get off the ground. If Bryant is anywhere near as focused in this venture as he was on the court, I’m going to take a serious look in investing some of my own money into the companies he believes in.
