Connect with us

Business

NBA Champion, Andre Iguodala retires to run $200 million venture capital fund

Published

on

Iguodala e1551858851934

NBA Champion Andre Iguodala, after a history-making 19-year career, has announced his retirement from professional basketball.

However, his journey is far from over as he shifts his focus to lead a $200 million venture capital fund, Mosaic.

Iguodala, along with his trusted longtime business partner Rudy Cline-Thomas, will be at the helm of Mosaic. Their venture into the world of tech investments began back in 2010 when they started purchasing tech stocks. This endeavour continued in tandem with Iguodala’s tenure with the Golden State Warriors, which commenced the same year.

“When I first arrived in the Bay Area, my goal was to achieve success both on and off the court,” Iguodala explained to NewYork Times DealBook, reflecting on his career transition. “I pondered how to gain access,” he added. This access led to strategic investments in companies such as Zoom and Cloudflare, among others.

Mosaic, which recently concluded its first funding round in May 2023, is poised to focus on providing early-stage funding to enterprises specializing in software, fintech, and sports-related ventures.

Their growing portfolio already includes startups that have ascended to become industry giants, such as Allbirds, Hims, Coinbase, and Carta. Notably, the partnership between Cline-Thomas and Iguodala extends beyond the realm of venture capital, as they became co-owners of the English soccer club, Leeds United, in July.

It’s essential to acknowledge Andre Iguodala’s illustrious basketball career, marked by four NBA championships with the Golden State Warriors and his recognition as the NBA Finals Most Valuable Player (MVP) in 2015. He also proudly represented the U.S. national team, contributing to their gold medal victories at the 2010 FIBA World Championship and the 2012 Summer Olympics.

While announcing his retirement, Iguodala disclosed that his “ultimate goal” is to become an owner of an NBA team, emphasizing that the timing has to be right. In the interim, he has been actively exploring ownership opportunities in sports beyond basketball.

In a recent development, Iguodala joined the ownership group of the San Francisco franchise in Tiger Woods and Rory McIlroy’s TMRW Golf League (TGL) in October 2023. Notably, his former teammates, Stephen Curry and Klay Thompson, are also investors in TGL San Francisco, which is yet to unveil its official team name.

As the launch of TGL’s inaugural season approaches in January 2024, TGL San Francisco is dedicated to building an exceptional team of talented players.

The addition of Andre Iguodala and Klay Thompson to the ownership group has generated excitement, with former Milwaukee Bucks Owner Marc Lasry expressing enthusiasm for their involvement.

Trending