Introduction:
Kyle Kuzma, a forward for the Washington Wizards and an NBA champion, has recently taken on a new role as an adviser at Scrum Ventures, an early-stage venture fund. Kuzma’s interest in business and his desire to create generational wealth for his family led him to venture capital. His diverse investment portfolio and competitive nature make him a valuable asset to Scrum Ventures.
Expanding into Venture Capital:
Kuzma’s venture capital journey began in 2020 when he started angel investing. Since then, he has built a diverse portfolio that goes beyond traditional sports tech investments. His investments include companies like Lemon Perfect, a soda alternative, Surf, a consumer data company, and Bezel, a watch marketplace. Michael Proman, a managing director at Scrum Ventures, believes Kuzma’s portfolio showcases his ability to identify venture-backable technologies outside of the sports industry.
A Hands-On Investor:
Kuzma is not content with just having his name associated with the companies he invests in. He plans to be a hands-on investor, leveraging his connections and network to help these companies grow. His experience playing basketball at the highest level has taught him the value of teamwork and competition. Kuzma brings a competitive nature to his investments, ensuring that he works closely with the companies to help them succeed.
The Impact of Kuzma’s Presence:
Kuzma’s involvement with Scrum Ventures has already had a positive impact on the firm. According to Proman, Kuzma’s presence has generated increased interest from potential partners and investors. This influx of inbound interest demonstrates the value that athletes like Kuzma can bring to the venture capital industry. Kuzma’s involvement serves as a testament to the growing trend of NBA players entering the world of venture capital.
A Growing Trend:
While Kuzma is not the first NBA player to venture into the world of venture capital, he certainly won’t be the last. Other players like Kevin Durant, Steph Curry, Andre Iguodala, and Michael Redd have already established their presence in the industry. Durant’s family office, 35V, is heavily invested in startups, while Curry is the anchor LP of Penny Jar Capital. Iguodala and Redd have even launched their own firms, Mosaic and 22 Ventures, respectively. Kuzma’s entry into venture capital is a testament to the increasing interest and involvement of NBA players in the industry.
Looking Ahead:
For Kuzma, joining Scrum Ventures is an exciting opportunity to further expand his portfolio and reach in the venture capital world. As an athlete, he understands the importance of diversifying investments and sees venture capital as the next step in his entrepreneurial journey. With his competitive nature and business acumen, Kuzma is well-positioned to make a significant impact as an adviser at Scrum Ventures and continue to drive interest from both athletes and investors alike.
