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 method 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 technology of the NBA,” Kuzma instructed TechCrunch in a telephone interview. “For me, I’ve all the time been a hustler and anyone that could be very excited by enterprise and doing issues simply to arrange my household’s generational wealth. I feel entering into enterprise is just 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 concentrating on $120 million. The partnership began in January when Kuzma’s agent, Austin Eastman, was related to Scrum managing director and accomplice Michael Proman. Kuzma stated he was impressed with Scrum’s group. Proman stated the optimistic sentiment was mutual.
“The factor about Kyle is, I personally didn’t actually even perceive how in depth his pursuits have been within the enterprise area till after getting launched,” Proman, a former NBA worker on the enterprise improvement group, stated. “Kyle is admittedly excited by understanding the enterprise playbook however extra so from the enterprise facet.”
Proman stated Scrum’s sports activities fund, the place Kuzma can be serving to, is a little bit totally 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 prospects and can also be relevant to different industries. Ozlo Sleepbuds is an effective instance. The corporate makes earbuds to assist folks sleep higher. Whereas sleeping properly is extremely necessary for athletes, it’s necessary far past skilled sports activities too. Scrum participated within the firm’s $6 million seed spherical earlier this yr.
Scrum’s broad method to sports activities tech makes Kuzma an excellent 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 different Lemon Excellent, which has gone on to lift an extra $67.8 million in enterprise capital; shopper knowledge firm, Surf; and watch market, Bezel.
“His funding portfolio is fairly various; it’s not simply your basic sports activities tech,” Proman stated. “There are a whole lot of people on the market that wish to make investments into what they do 24/7, and whereas they might 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 wish to relaxation there and would moderately use his standing to assist corporations develop their community utilizing his connections. He additionally thinks his expertise taking part in basketball makes him an excellent match as a VC as a result of he’s used to working in a aggressive setting the place you don’t succeed until you’re employed as a group.
“I carry a aggressive nature,” he stated. “If you play sports activities on the highest stage just like the NBA, you might be taking part in chess and never checkers. We’re good; we’re not simply athletes. We’re not simply those who 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 trade, too, by launching corporations of their very own, Mosaic and 22 Ventures, respectively. Kuzma is the newest NBA participant to dive into enterprise, however he possible received’t be the newest for lengthy.
“Becoming a member of Scrum Ventures is admittedly thrilling for me,” Kuzma stated. “I wish to additional my portfolio and simply my attain within the VC world. As athletes, they all the time let you know to diversify your portfolio as a lot as you’ll be able to. That is the subsequent iteration of me as an entrepreneur.”
