Ex-NBA Pro Digs Deep Pocket for $100 Million Technology in Sports Venture
Hey there!
Former NBA player Metta World Peace has entered the venture capital game with his new fund, Tru Skye Ventures. Team-upped with ex-Boost Mobile CEO Stephen Stokols, this investing power duo is aiming to shake things up in the sports, tech, digital media, health, and wellness realms.
Their first goal is to raise a grand $100 million by the first quarter of 2025. But they're not just getting their hands dirty with cash—they're ready to dive deep into helping their chosen startups by providing pointed expertise in areas like product development, distribution, brand partnerships, and growth marketing.
The health and wellness niche is already seeing some major love from Tru Skye Ventures, with an undisclosed investment in performance beverage company Barcode, founded by Mubarak "Bar" Malik (former director of performance for the New York Knicks and Los Angeles Lakers). Interestingly, this announcement comes almost on the tee of the 20th anniversary of the infamous "Malice at the Palace" incident, which Star Peace was prominently involved in.
Nowadays, World Peace is all about breaking down barriers when it comes to mental health and loading up on wellness ventures. "Health and wellness are always going to win," he said. With that unwavering belief, the fund expects to invest in at least 20 companies and has already started rolling out some cash for an undisclosed sports tech investment.
World Peace and Stokols are well-versed in the capital game and look to amp things up by transitioning from angel investors to institutional players, with the ability to write bigger checks and provide more formal value. Support comes from an extensive network of corporate partners, influencers, former pro athletes, entertainers, ex-politicians, and family offices.
If that wasn't impressive enough, Tru Skye Ventures has set its sights on the 2025 BEYOND Expo, where they'll share their journey, insights, and be bold in stating their future plans as investors and innovators. Keep your eyes peeled for updates from this game-changing duo!
Interesting Tidbits to Know:
- Sports tech: This investment area could see funding flowing towards wearable devices, virtual training platforms, and analytics tools.
- Digital media: Expect investments in streaming services, social media platforms centered on sports, and digital content creation.
- Wellness: Areas of focus within this sector might involve health technologies, mental wellness apps, and fitness platforms.
- Metta World Peace and Stephen Stokols, with their venture capital fund, Tru Skye Ventures, are venturing into sports tech, investing in areas like wearable devices, virtual training platforms, and analytics tools.
- In the digital media realm, the duo might consider investments in streaming services, social media platforms centered on sports, and digital content creation.
- Health and wellness ventures are a promising area for Tru Skye Ventures, with potential investments in health technologies, mental wellness apps, fitness platforms, and performance beverage companies.
- The former NBA player and his partner aim to shake up the business world, not only providing funding but also offering pointed expertise in product development, distribution, brand partnerships, and growth marketing.
- With an ambitious goal to raise $100 million by Q1 2025, Tru Skye Ventures expects to invest in at least 20 companies across various sectors, including finance, science, and video technology.
- Venture capitalists World Peace and Stokols are making moves in the investing world, transitioning from angel investors to institutional players capable of writing bigger checks and providing more formal value.
- At the 2025 BEYOND Expo, Tru Skye Ventures plans to share their journey, insights, and future plans as investors and innovators, keeping the industry eagerly awaiting updates from this game-changing duo.
