Carmelo Anthony has decided to co-found a company, M7 Tech Partners, that will invest in technology start-ups. The NY Times says:
The idea that turned Carmelo Anthony into a venture capitalist came to him during practice with the Knicks last season.
The basketball star became interested in the sophisticated sensors that players had recently started wearing to track their performance …
The average basketball player has a career of five seasons. After playing many athletes have little money and no skill set other than playing basketball. I’m glad to see that Carmelo Anthony is building a financial foundation to make sure that he and his family will be financially secure after retirement from basketball.
Bloomberg reports that Anthony said:
“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.”
Investing in tech start-ups is a tough field, so I’ll be keeping a close eye on M7 Tech Partners. I wonder if M7 will actively pursue Black and/or Latino tech start-ups?