Former Lakers star Kobe Bryant, 38, is securing his family?s future by investing $100 million on a venture-capital fund that has something to do with media, technology and data companies. Bryant is not alone in the investment as he partners with experienced entrepreneur and investor, 43-year-old Jeff Stibel. The Los Angeles based investment partners have been making deals since 2013, but news reports reveal that the partnership was only formalized after Bryant retired from the NBA.
The company, now named Bryant Stibel, is not currently seeking to attract outside investors. Rather, it is securing plans on increasing their capital over the years. Bryant Stibel is currently investing on ?The Player?s Tribune? a sports media website; Scopely, a videogame designer; LegalZoom, a legal service company; and RingDNA, a telemarketing software firm. The last is the home-juicing company called Juicero.
In an interview with the two investors featured on the Wall Street Journal, Stibel said ?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.? Kobe Bryant, on the other hand, shared his experience on how to spot the right investors, saying ?Sometimes you can spot it right away, other times not so much. It?s the inner belief that a person has that he will endure no matter what the obstacle may be. It?s that persistence, the entrepreneur doing what he or she truly believes in and truly loves to do.?
Stibel added that, for the business to succeed, Bryant Stibel may need to invest on grit and intelligence to pursue the challenge. He challenged entrepreneurs to have the passion in the business, as it may change in ideas and concept over time, but the passion of the entrepreneur remains.
As for Bryant?s recent retirement and becoming an almost full time business mogul, he said ?If you would have asked me 10 years ago, I would say I need to win now. Age tends to give you perspective. The most important thing I enjoy now is helping others be successful. I enjoy doing that much much more, that?s something that lasts forever, and hope they do that for the next generation.?