If you were wondering what Kobe Bryant would do with himself once his playing career was over, now we know. According to the Wall Street Journal, he’s planning to launch a $100 million venture-capital fund with investor Jeff Stibel called, appropriately enough, Bryant Stibel.
Bryant and Stibel have already invested in companies including the Players Tribune and LegalZoom, but hadn’t officially made their partnership into a company until now. Bryant will surely still be involved in basketball in some capacity going forward, but for now, this is the direction his career is taking.
The retired NBA star will today unveil his venture-capital fund, a $100 million vehicle for investing in technology, media and data companies.
Mr. Bryant, who turns 38 Tuesday, isn’t going it alone: He is partnering with 43-year-old Jeff Stibel, a longtime entrepreneur and investor who was introduced to Mr. Bryant by a mutual friend. They have named their firm Bryant Stibel and will be based in the Los Angeles area.
The two have been invested in 15 companies since 2013, but only after Mr. Bryant’s retirement from basketball have they decided to formalize their relationship and fund.
The two men are contributing the $100 million—which they expect to invest over the next few years—and aren’t seeking outside investors yet.
Bryant and Stibel have already invested in companies including the Players Tribune and LegalZoom, but hadn’t officially made their partnership into a company until now. Bryant will surely still be involved in basketball in some capacity going forward, but for now, this is the direction his career is taking.