NBA star Carmelo Anthony creates fund to Invest in Tech Startups

Carmelo Anthony. PHOTO/File

New York Knicks All-Star Carmelo Anthony has formed a fund to invest in technology startups.

Anthony, who wears jersey No. 7, founded M7 Tech Partners with Stuart Goldfarb, a former executive vice president of worldwide business development at NBC.

The New York-based M7 Tech Partners will not have outside investors or limited partners. It will invest in startups that focus on digital media and consumer technology. The fund has made an undisclosed investment in Hullabalu Inc., which creates digital children’s books.

Anthony, a 7-time National Basketball Association (NBA) All-Star, said in a statement that he’s been interested in technology “for as long as I can remember.” “We are actively looking for ventures with strong leaders creating breakthrough products that resonate with consumers,” he said. “I particularly have my eye on companies that are involved with wearable technology and connected devices – these will be huge areas for the future.”

Anthony earlier this month re-signed with the Knicks for US$125 million over 5 years.

Source: Bloomberg