Kobe Bryant to launch a $100 million VC Firm

Written by | Business, Startups, Tech

Kobe_Bryant

Kobe Bryant, an NBA Hall of Famer will soon be known as a Venture Capitalist (VC), as he teamed up with entrepreneur and investor Jeff Stibel to launch their VC firm with $100 million funds.

Investing in companies is nothing to new to Bryant and Stibel, since the two have “informally” invested and made deals with 15 companies since 2013, so Bryant and Stibel are just making their VC Firm official and will be located in Los Angeles.

In a report by Wall Street Journal, BryantStibel VC Firm will focus on tech, media and data companies and it is expected to last “the next few years”. Kobe Bryant and Jeff Stibel are providing the funds in full and currently not looking for any outside investor yet.

Even though Stibel said in the WSJ report, that they are not looking for companies what will use Kobe as an endorser, it’ll be a mistake if duo does not capitalize on Kobe’s social media followers, since he have more than 16 million followes on both Instagram and Twitter.

Source: TechCrunch
Image by Keith AllisonFlickr: Kobe Bryant, CC BY-SA 2.0

Last modified: August 23, 2016