Kobe Bryant is parlaying his basketball cred into a $100 million venture capital fund.

On Monday, the former NBA superstar announced the launch of his firm, along with co-founder and entrepreneur Jeff Stibel. The Los Angles-based company, called Bryant Stibel, will focus on technology, media and data startups.

The co-founders contributed the $100 million themselves, and expect to invest over the next few years. Currently, they aren't seeking any outside investors.

"Age tends to give you perspective," Bryant told the Wall Street Journal of his decision to start the fund. "The most important thing I enjoy now is helping others to be successful. I enjoy doing that much, much more, that's something that lasts forever, and hope they do that for the next generation."

Bryant's investments have so far included LegalZoom, a legal services firm, and Scopely, a video game designer that made last year's Inc. 5000 list at No. 9. The diverse portfolio suggests that Bryant is interested in lending more than just his name to the companies, the co-founders insist.

"The point is to add real value," said Stibel.

Of course, Bryant isn't the only pro-baller to turn venture capitalist. Former NBA player Shaquille O'Neal has also invested in technology and entertainment companies, while the Knicks' Carmelo Anthony invests in mostly early-stage ventures through his firm, Melo7 Tech Partners. Meanwhile, Andre Igoudala of the Golden State Warriors recently invested in HingeTo, a fashion technology platform that last month launched in partnership with retired NFL player Marshawn Lynch.

Published on: Aug 22, 2016