Kobe Bryant Trades In NBA Jersey For Suit For New Venture Capital Fund

Five-time NBA Champion Kobe Bryant retired after 20 years with the Los Angeles Lakers. His new job: overseeing a $100 million venture capital fund.

According to the Wall Street Journal, Bryant will team up with Jeff Stibel, an entrepreneur and investor who was introduced to Bryant by a mutual friend. Together, their fund, Bryant Stibel, will invest in technology, media and data companies.

Bryant and Stibel's relationship dates back to 2013, as the two have them invested in 15 different companies. It was only after Bryant's retirement this year that their business relationship became formalized and official.

The Wall Street Journal noted that current investments include a sports media website, video game designer, a legal-services company, a telemarketing-software company and a home juicing company.

Related Link: 5 Of The Most Successful Athletes Turned Investors

"We don't want to be in the business of investing in companies so someone can use Kobe as an endorser. That's not interesting," Stibel told the Wall Street Journal. "The point is to add real value."

On the other hand, Bryant believes his background in competing and winning at the highest level of sports competition is an asset that is just as valuable as what Stibel brings to the table.

"Sometimes you can spot it right away, other times not so much," Bryant also told the publication. "It's the inner belief that a person has that he will endure no matter what the obstacle may be. It's that persistence, the entrepreneur doing what he or she truly believes in and truly loves to do."

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