Kyle Kuzma is many things. He is a forward for the NBA team Washington Wizards and NBA champion in 2020. He is also a style icon, depending on Who are you asking – and an angel investor. Now he is also an advisor to a venture fund.
“I’m part of a new generation of the NBA,” Kuzma told TechCrunch in a phone interview. “For me, I’ve always been a hustler and someone who is very interested in business and doing things just to establish my family’s generational wealth. “I think starting a business will only take you to a different stratosphere.”
Kuzma, 28, joined early-stage-focused Scrum Ventures in March as an advisor to help with the company’s sports and entertainment fund, which is targeting $120 million. The partnership began in January when Kuzma’s agent, Austin Eastman, connected with CEO and Scrum Partner Michael Proman. Kuzma said that he was impressed with the Scrum team. Proman said the positive feeling was mutual.
“The thing about Kyle is that I personally didn’t even understand how extensive his interests in the venture space were until after he was introduced,” said Proman, a former NBA employee on the business development team. “Kyle is really interested in understanding the risk playbook, but even more so from a risk standpoint.”
Proman said the Scrum sports fund, which Kuzma will help, is a little different than other sports-focused venture capital funds, because it focuses on technology that could be useful for athletes or enterprise sports clients and is also applicable to other industries. Ozlo Sleepbuds are a good example. The company makes headphones to help people sleep better. While getting good sleep is incredibly important for athletes, it’s also important far beyond professional sports. Scrum participated in the company’s $6 million seed round earlier this year.
Scrum’s broad approach to sports technology makes Kuzma a good advisor, unlike another NBA player, Proman said, because Kuzma has already invested in several sectors. Kuzma began angel investing in 2020 and has built a portfolio that includes soda alternative Lemon Perfect, which has raised an additional 67.8 million dollars in venture capital; consumer data company Surf; and look at the market, Bezel.
“Their investment portfolio is quite diverse; It’s not just classic sports technology,” Proman said. “There are a lot of people who want to invest in what they do 24/7, and while they may be great at providing insights and analysis of those technologies, in many cases they are not enterprise-supportable technologies.”
Kuzma said he plans to be a hands-on investor, and while he knows a name like his could be a big marketing boon for the companies he works with, he said he doesn’t want to stop there and would rather use his status to help companies. Expand your network using your connections. He also believes that his experience playing basketball makes him a good choice as a VC because he is used to working in a competitive environment where you are not successful unless you are a team player.
“I bring a competitive nature,” he said. “When you play sports at the highest level like the NBA, you play chess and not checkers. We are intelligent; We are not just athletes. “We are not just people who play sports and do nothing else.”
Kuzma’s presence has already been beneficial to the company, Proman said, as working with an athlete like Kuzma has led to an increase in inbound interest in the company. “Good incoming interest,” he clarified.
Kuzma is not the first NBA player to get involved with venture capital. Kevin Durant’s family office, 35V, invests heavily in startups. Steph Curry is the anchor LP for Penny Jar Capital. Former players like Andre Iguodala and Michael Redd have also taken on more formal roles in the industry by launching their own companies, Mosaic and 22 Ventures, respectively. Kuzma is the latest NBA player to embark on the adventure, but he probably won’t be the last for long.
“Joining Scrum Ventures is really exciting for me,” Kuzma said. “I want to expand my portfolio and my reach in the world of venture capital. As athletes, you’re always told to diversify your portfolio as much as you can. “This is the next version of me as an entrepreneur.”