Kyle Kuzma is a whole lot of issues. He’s a ahead for the Washington Wizards NBA group and a 2020 NBA champion. He’s additionally a mode icon — relying on who you ask — and an angel investor. Now he’s an adviser at a enterprise fund too.
“I’m part of a new generation of the NBA,” Kuzma informed TechCrunch in a cellphone interview. “For me, I’ve always been a hustler and somebody that is very interested in business and doing things just to set up my family’s generational wealth. I think getting into venture is only going to take that to a different stratosphere.”
Kuzma, 28, joined early-stage-focused Scrum Ventures in March as an adviser to assist with the agency’s sports activities and leisure fund, which is concentrating on $120 million. The partnership began in January when Kuzma’s agent, Austin Eastman, was related to Scrum managing director and companion Michael Proman. Kuzma mentioned he was impressed with Scrum’s group. Proman mentioned the constructive sentiment was mutual.
“The thing about Kyle is, I personally didn’t really even understand how extensive his interests were in the venture space until after getting introduced,” Proman, a former NBA worker on the enterprise growth group, mentioned. “Kyle is really interested in understanding the venture playbook but more so from the venture side.”
Proman mentioned Scrum’s sports activities fund, the place Kuzma shall be serving to, is slightly totally different than different sports-focused VC funds, as a result of it focuses on tech that may very well be helpful to athletes or enterprise sports activities prospects and can be relevant to different industries. Ozlo Sleepbuds is an efficient instance. The firm makes earbuds to assist individuals sleep higher. While sleeping nicely is extremely essential for athletes, it’s essential far past skilled sports activities too. Scrum participated within the firm’s $6 million seed spherical earlier this 12 months.
Scrum’s broad strategy to sports activities tech makes Kuzma a very good adviser, versus one other NBA participant, Proman mentioned, as a result of Kuzma has already invested throughout a number of sectors. Kuzma began angel investing in 2020 and has constructed up a portfolio that features soda different Lemon Perfect, which has gone on to boost an extra $67.eight million in enterprise capital; client knowledge firm, Surf; and watch market, Bezel.
“His investment portfolio is pretty diverse; it’s not just your classic sports tech,” Proman mentioned. “There are a lot of folks out there that want to invest into what they do 24/7, and while they may be great at providing insights and analysis of those technologies, in many cases those aren’t venture-backable technologies.”
Kuzma mentioned he plans to be a hands-on investor, and whereas he is aware of a reputation like his may very well be a advertising boon for the businesses he works with, he mentioned he doesn’t simply wish to relaxation there and would slightly use his standing to assist corporations broaden their community utilizing his connections. He additionally thinks his expertise taking part in basketball makes him a very good match as a VC as a result of he’s used to working in a aggressive atmosphere the place you don’t succeed until you’re employed as a group.
“I bring a competitive nature,” he mentioned. “When you play sports at the highest level like the NBA, you are playing chess and not checkers. We are smart; we are not just athletes. We are not just people that play sports and not do anything else.”
Kuzma’s presence has already proved helpful for the agency, Proman mentioned, as working with an athlete like Kuzma has led to an uptick in inbound curiosity within the agency. Good inbound curiosity — he clarified.
Kuzma isn’t the primary NBA participant to get entangled with enterprise capital. Kevin Durant’s household workplace, 35V, invests closely in startups. Steph Curry is the anchor LP of Penny Jar Capital. Former gamers like Andre Iguodala and Michael Redd have taken extra formal roles within the business, too, by launching corporations of their very own, Mosaic and 22 Ventures, respectively. Kuzma is the most recent NBA participant to dive into enterprise, however he probably received’t be the most recent…
