left corner left corner
China Daily Website  

Kobe Bryant starts $100m fund

Updated: 2016-08-24 07:18
By Associated Press In New York (China Daily)

 Kobe Bryant starts $100m fund

Bryant Stibel cofounders and general partners Jeff Stibel (3rd from left) and Kobe Bryant (2nd from right) ring the opening bell at the New York Stock Exchange on Monday. Reuters

Retired NBA star Kobe Bryant is moving to Wall Street, announcing the formation of a $100 million venture capital fund to invest in media, technology and data companies.

The fund, known as Bryant Stibel, is being co-managed by investor Jeff Stibel. The two met through mutual friends, Stibel said.

Bryant Stibel has already made investments in 15 companies, including Legal-Zoom and home juicing company Juicero, according to their website.

The firm was founded in 2013, but is going public now with the retirement of Bryant from the Lakers.

Stibel said the firm is focused on companies at all stages of growth.

"We are actively looking for great entrepreneurs, but we are in no hurry to deploy capital," he said.

Bryant earned roughly $680 million in salary and endorsements during his 18-year NBA career, according to Forbes, and has been in the process of transition from professional athlete to businessman.

Bryant created a company in 2014 called Kobe Inc to help handle his image.


  • Group a building block for Africa

    An unusually heavy downpour hit Durban for two days before the BRICS summit's debut on African soil, but interest for a better platform for emerging markets were still sparked at the summit.