Kyle Kuzma is lots of issues. He’s a ahead for the Washington Wizards NBA crew 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 cellphone interview. “For me, I’ve at all times been a hustler and any individual that may be very involved in enterprise and doing issues simply to arrange my household’s generational wealth. I feel moving 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 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 crew. Proman stated the constructive sentiment was mutual.
“The factor about Kyle is, I personally didn’t actually even perceive how intensive his pursuits have been within the enterprise house till after getting launched,” Proman, a former NBA worker on the enterprise growth crew, stated. “Kyle is absolutely involved in 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 slightly 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 12 months.
Scrum’s broad method to sports activities tech makes Kuzma a superb 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 basic sports activities tech,” Proman stated. “There are lots of of us 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 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 and marketing 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 firms increase their community utilizing his connections. He additionally thinks his expertise enjoying basketball makes him a superb match as a VC as a result of he’s used to working in a aggressive surroundings the place you don’t succeed except you’re employed as a crew.
“I convey 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 aren’t simply athletes. We aren’t simply folks that play sports activities and never do the rest.”
Kuzma’s presence has already proved useful 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 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 trade, 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 doubtless gained’t be the most recent for lengthy.
“Becoming a member of Scrum Ventures is absolutely thrilling for me,” Kuzma stated. “I wish 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 possibly can. That is the following iteration of me as an entrepreneur.”