Ex-basketball player Kobe Bryant has set up a $100 million venture capital fund in partnership with tech entrepreneur Jeff Stibel, according to the Wall Street Journal.
The fund will be based in Los Angeles and invest in technology, media and data companies, combining to industry knowledge of both Stibel, former CEO of Web.com and Bryant, the retired NBA basketball star.
While Bryant and Stibel are no stranger to business investment, having helped fund 15 businesses together in the last three years, the investment fund marks a new stage in their investment portfolio. Previous businesses the pair have invested in include sports website The Players Tribune and game design company Scopely.
Bryant said to the Wall Street Journal:
“I think it’s interesting that the immediate reaction from people would be competitiveness between myself and others. I’m more interested in how I can help Shaq, Melo, or [NBA player Andre] Iguodala.”