Ex-NBA Star Launches $100M Sports Tech Fund – peopleofcolorintech

Former NBA star Metta Sandiford-Artest, formerly known as Metta World Peace, is launching a $100 million venture fund focused on sports technology, digital media, and wellness innovations. 

The fund, Tru Skye Ventures, is a partnership with ex-Boost Mobile CEO Stephen Stokols and is slated to raise the capital by the first quarter of 2025, according to Sportico.

Tru Skye Ventures aims to back early-stage startups, combining capital with expertise in product development, brand partnerships, and growth marketing.

Targeting Innovation in Sports and Wellness

Tru Skye Ventures has already announced an investment in Barcode, a performance beverage company founded by Mubarak “Bar” Malik, a former New York Knicks and Los Angeles Lakers performance director. 

While this marks their first official investment, they also have deals in the works with sports tech companies. 

The fund is projected to invest in at least 20 companies, building on World Peace’s and Stokols’ angel investment experience, which includes over 40 personal portfolio startups.

In a video interview, World Peace emphasized the focus on health and wellness as a cornerstone, underscoring the importance of generational wealth and destigmatizing mental health.

“Health and wellness are always going to win,” he stated.

Leveraging A Robust Network

World Peace, who pursued advanced studies at UCLA post-retirement, has been meticulously building his acumen in finance and private equity. 

His network includes athletes, entertainers, and investors who are actively supporting Tru Skye Ventures. 

According to Stokols, this network is one of the venture’s strongest assets, allowing the fund to access unique opportunities and influence.

Feature Image Credit: AP Photo/Mark J. Terrill, File

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