black people and money

Basketball Star Kobe Bryant Establishes A $100 Million Venture Capital Fund

Basketball Star Kobe Bryant Establishes A $100 Million Venture Capital Fund

By Victor Ochieng

Retired basketball sensation Kobe Bryant is doing something commendable with his retirement time and resources. Over the past three years, the star has been building a $100 million venture capital fund. Speaking on Monday, he said investing is one of the things he’s been very passionate about, and that’s why he made a decision to pursue it.

The 38-year-old former shooting guard co-founded the fund, Bryant Stibel, in 2013 with the current vice chairman of Dun & Bradstreet, Jeff Stibel. According to Stibel, they opted to wait so that the initiative could only be unveiled if had been given a strong foundation.

“We wanted our body of work, and the entrepreneurs and companies, to stand for themselves,” Stibel told CNNMoney. “We wanted to prove that this was something that had substance and depth.”

Bryant is out to build a name in the field of investing. He categorically said he would like to be known for his sense of money rather than his shining basketball legacy.

“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.”

He’s planning to invest in different fields, including technology, media and data companies, especially those that lean towards sports and wellness.

Before retiring, Bryant scooped five NBA championship titles, retiring in 2015 after completing 20 successful seasons with the Los Angeles Lakers.

Although the success of Bryant’s new venture cannot be determined now, the star is very confident about its future. Speaking with CNBC, Bryant said, “Our mantra is value growth. To grow, you have to constantly learn, you have to constantly move, constantly improve. That’s the key. That’s what makes life fun.”

The 38-year-old is focused on progression and that’s why he doesn’t shy away from reaching out to successful people to learn from their experiences. “What I love doing is cold-calling people, getting their book list,” he said. “‘What did you read? What did you learn? How did you learn it?’ Those are the questions.”

Bryant isn’t the type who relaxes in a comfort zone. He has an amazing growth mindset even when people feel he’s already “made it.”

Well, that’s exactly the reason why he’s chosen to still be involved in making a difference.


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