Kyle Kuzma is a whole lot of issues. He’s a ahead for the Washington Wizards NBA staff 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 technology 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 desirous about enterprise and doing issues simply to arrange my household’s generational wealth. I feel entering into enterprise is barely going to take that to a distinct 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 related to Scrum managing director and accomplice Michael Proman. Kuzma stated he was impressed with Scrum’s staff. Proman stated the constructive sentiment was mutual.
“The factor about Kyle is, I personally didn’t actually even perceive how in depth his pursuits had been within the enterprise area till after getting launched,” Proman, a former NBA worker on the enterprise improvement staff, stated. “Kyle is absolutely desirous about understanding the enterprise playbook however extra so from the enterprise aspect.”
Proman stated Scrum’s sports activities fund, the place Kuzma will probably be serving to, is just a little 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 be relevant to different industries. Ozlo Sleepbuds is an effective instance. The corporate makes earbuds to assist individuals sleep higher. Whereas sleeping properly 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 yr.
Scrum’s broad method to sports activities tech makes Kuzma a very good 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 Excellent, which has gone on to lift an extra $67.8 million in enterprise capital; client knowledge 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 whole lot of people on the market that need 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 circumstances 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 reasonably use his standing to assist firms broaden their community utilizing his connections. He additionally thinks his expertise enjoying 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 staff.
“I deliver a aggressive nature,” he stated. “If you play sports activities on the highest degree just like the NBA, you’re enjoying chess and never checkers. We’re sensible; 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 doubtless received’t be the newest 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 let you know to diversify your portfolio as a lot as you possibly can. That is the following iteration of me as an entrepreneur.”
