Kyle Kuzma is a lot of things. He is a forward for the Washington Wizards NBA team and is also the 2020 NBA Champion. He's both a style icon and an angel investor, depending on who you ask. He also currently serves as an advisor to a venture fund.
“I'm part of a new generation in the NBA,” Kuzma told TechCrunch in a phone interview. “For me, I've always been a hustler, someone who was very interested in business and would do anything just to establish generational wealth for my family. Going into a venture took it into another stratosphere. I think I'll just take you there.”
Kuzma, 28, joined early-stage-focused Scrum Ventures in March as an advisor to support the company's $120 million sports and entertainment fund. The partnership began in January when Kuzma's agent, Austin Eastman, connected with Scrum managing director and partner Michael Proman. Kuzma said he was impressed with the scrum team. Proman said the positive feelings are mutual.
“The thing about Kyle is that, for me personally, I didn't even really realize how extensive his interests were in the venture space until I was introduced to him,” said former NBA employee and business developer. said the team's professional man. “Kyle is very interested in understanding venture strategy, but more so from the venture side.”
Proman said Scrum's Sports Fund, backed by Kuzma, is unique to other sports because it focuses on technology that can help athletes and sports company clients and can also be applied to other industries. He said that it is a little different from the VC funds that have become popular. Ozlo Sleepbuds are a good example. The company makes earphones to help people sleep better. Sleeping well is extremely important for athletes, but it's also important outside of 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 in contrast to other NBA players, Proman said, as Kuzma has already invested in multiple areas. Kuzma began angel investing in 2020, building a portfolio that includes soda substitute Lemon Perfect and raising an additional $67.8 million in venture capital. Consumer data company Surf. and Bezel, a watch marketplace.
“His investment portfolio is very diverse. It's not just classic sports technology,” Proman says. “There are a lot of people out there who want to invest in what they do 24/7. They may be good at providing insight and analysis on those technologies, but In many cases, these are not technologies that can be backed by ventures.”
Kuzma said he intends to be a hands-on investor and knows a name like his could be a marketing boon for the companies he does business with, but he's just going to rest there. Rather, use your position to leverage his connections to help the company expand its network. He also believes his experience playing basketball makes him a good fit for VC, as he is used to working in competitive environments where you have to work as a team to succeed.
“I’m competitive,” he said. “When you play a sport at the highest level like the NBA, you're playing chess, not checkers. We're smart; we're not just athletes. We don't just play sports. I'm not just someone who doesn't do anything else.”
Kuzma's presence has already proven beneficial for the company, Proman said, as working with athletes like Kuzma increases inbound interest in the company. He made it clear that there is a lot of interest in inbound tourism.
Kuzma isn't the first NBA player to get involved in venture capital. Kevin Durant's family office, his 35V, invests heavily in startups. Stephen Curry is an anchor LP at Penny Jar Capital. Former players like Andre Iguodala and Michael Redd have also taken on more formal roles in the industry, starting their own companies, Mosaic and 22 Ventures, respectively. Kuzma is the latest NBA player to join the venture, but he probably won't be the latest for long.
“Joining Scrum Ventures is really exciting for me,” said Kuzma. “I want to further strengthen my portfolio and further expand my reach in the VC world. As an athlete, they always tell me to diversify my portfolio as much as possible. This is the next iteration of .