Former NBA Lakers star Metta Sandiford-Artest, known as Metta World Peace, has ventured into the world of venture capitalism with the launch of Tru Skye Ventures alongside Stephen Stokols, the former CEO of Boost Mobile. This new firm is focused on investing in sports and health tech, aiming to raise a whopping $100 million for its endeavors. Their first investment target is Barcode, a performance beverage company founded by Mubarak Malik, a former New York Knicks and LA Lakers Performance Director, as reported by Sportico.
Athletes in the Venture Capital Space
The entrance of Sandiford-Artest and Stokols into the venture capital scene comes at a time when more athletes are exploring investment opportunities beyond their respective sports careers. Just last month, NBA star Giannis Antetokounmpo of the Milwaukee Bucks made headlines with the launch of his venture firm, Build Your Legacy, focusing on sports and entertainment companies. This trend is further exemplified by the likes of Steph Curry, Serena Williams, and Kevin Durant, all of whom have established their own successful venture firms.
Tru Skye Ventures’ Mission
Tru Skye Ventures’ mission to invest in sports and health tech aligns with the growing trend of athletes turning to entrepreneurship and investment as a means to secure their financial futures beyond their playing days. The firm’s strategic decision to target Barcode as its first investment showcases a commitment to supporting innovative companies in the sports performance sector.
The Impact of Sports and Health Tech Investments
Investments in sports and health tech not only have the potential to revolutionize the industry but also to enhance the overall performance and well-being of athletes. By leveraging their expertise and networks in the sports world, Sandiford-Artest and Stokols are poised to make a significant impact in this space, driving innovation and growth for the benefit of athletes and consumers alike.
In a world where the line between sports and technology continues to blur, ventures like Tru Skye Ventures play a crucial role in shaping the future of the industry. As athletes increasingly diversify their portfolios and explore new opportunities in venture capitalism, the possibilities for innovation and success are limitless. With Tru Skye Ventures leading the charge, the intersection of sports, health, and technology is set to reach new heights, promising exciting developments and advancements in the years to come.
