NBA legend Kobe Bryant announced on Monday (August 22) that he will be starting a $100 million venture capitalist fund. The fund will be based in Los Angeles and co-owned by investor Jeff Stibel. The two will manage funds centered around the tech, media and data industries. Bryant and Stibel have history. According to MSN, the gentlemen have worked together on 15 other investment projects since 2013. Bryant isn’t the only NBA player ever to enter into venture capitalist world. Carmelo Anthony, as well as, Shaquille O’Neal has also launched tech-driven funds. The popularity of these star athletes makes any venture they’re involved in major. However, Bryant does not want to his star power to help push any future business investments. “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 tells WSJ. Read more… Photo credit: Getty Images/ABC News
