August 22, 2016
Kobe Bryant, the NBA star drafted straight out of Lower Merion High School, is now poised to make his mark in another profession — venture capitalism.
On Monday, Bryant and his partner Jeff Stibel, former-President and CEO of Web.com, announced the creation of their $100-million, Los Angeles-based venture capital fund named Bryant Stibel in an article published in The Wall Street Journal.
The fund will invest in media, technology, and data companies, a mission already demonstrated by the roster of 15 companies the duo have invested in since 2013, according to the Bryant Stibel website. Among them are LegalZoom, Alibaba.com, Derek Jeter’s The Players’ Tribune, and a $700 juicer called Juicero.
With Bryant's professional basketball career now over, the two are getting more official regarding their roles: Stibel will bring the entrepreneurial business background, and Kobe will bring the creativity — mostly focused around marketing and branding.
But Bryant said he’s in it for the good of others.
“The most important thing I enjoy now is helping others be successful,” he told The Wall Street Journal. “I enjoy doing that much much more, that’s something that lasts forever.”