Kyle Kuzma is a number 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 a part of a brand new era of the NBA,” Kuzma informed TechCrunch in a telephone interview. “For me, I’ve at all times been a hustler and anyone that may be very interested by enterprise and doing issues simply to arrange my household’s generational wealth. I feel stepping into enterprise is simply going to take that to a special 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 focusing on $120 million. The partnership began in January when Kuzma’s agent, Austin Eastman, was linked to Scrum managing director and accomplice Michael Proman. Kuzma stated he was impressed with Scrum’s group. Proman stated the constructive sentiment was mutual.
“The factor about Kyle is, I personally didn’t actually even perceive how intensive his pursuits had been within the enterprise house till after getting launched,” Proman, a former NBA worker on the enterprise improvement group, stated. “Kyle is absolutely interested by understanding the enterprise playbook however extra so from the enterprise facet.”
Proman stated Scrum’s sports activities fund, the place Kuzma shall be serving to, is a bit of completely different than different sports-focused VC funds, as a result of it focuses on tech that could possibly be helpful to athletes or enterprise sports activities clients and can be relevant to different industries. Ozlo Sleepbuds is an efficient instance. The corporate makes earbuds to assist folks sleep higher. Whereas sleeping effectively is extremely vital for athletes, it’s vital far past skilled sports activities too. Scrum participated within the firm’s $6 million seed spherical earlier this 12 months.
Scrum’s broad method to sports activities tech makes Kuzma adviser, versus one other NBA participant, Proman stated, 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 various Lemon Good, which has gone on to boost an extra $67.8 million in enterprise capital; shopper information firm, Surf; and watch market, Bezel.
“His funding portfolio is fairly various; it’s not simply your traditional sports activities tech,” Proman stated. “There are a number of of us on the market that need to make investments into what they do 24/7, and whereas they could be nice at offering insights and evaluation of these applied sciences, in lots of instances these aren’t venture-backable applied sciences.”
Kuzma stated he plans to be a hands-on investor, and whereas he is aware of a reputation like his could possibly be a advertising boon for the businesses he works with, he stated he doesn’t simply need to relaxation there and would moderately use his standing to assist corporations increase their community utilizing his connections. He additionally thinks his expertise taking part in basketball makes him match as a VC as a result of he’s used to working in a aggressive atmosphere the place you don’t succeed except you’re employed as a group.
“I deliver a aggressive nature,” he stated. “Whenever you play sports activities on the highest degree just like the NBA, you’re taking part in chess and never checkers. We’re good; we aren’t simply athletes. We’re not simply those that play sports activities and never do anything.”
Kuzma’s presence has already proved helpful for the agency, Proman stated, 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 become involved 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 companies of their very own, Mosaic and 22 Ventures, respectively. Kuzma is the most recent NBA participant to dive into enterprise, however he possible received’t be the most recent for lengthy.
“Becoming a member of Scrum Ventures is absolutely thrilling for me,” Kuzma stated. “I need to additional my portfolio and simply my attain within the VC world. As athletes, they at all times inform you to diversify your portfolio as a lot as you’ll be able to. That is the subsequent iteration of me as an entrepreneur.”
