After The NBA, Michael Redd Entered The VC World And Has Now Invested In More Than 85 Companies – AfroTech
Former NBA player Michael Redd is now a serial investor.
Redd spent 12 years playing in the NBA. Basketball Network reports he was a second-round pick in the 2000 NBA draft and became an All-Star after three seasons. He spent the majority of his career with the Milwaukee Bucks, but also played for the Phoenix Suns, before officially retiring in 2011 with $101.9 million in career earnings, per Spotrac.
Beyond the sport, Redd took an interest in venture capital (VC). He admitted he “was never satisfied just making it to the NBA,” according to Basketball Network.
“The narrative had been how much the players make in the NBA; I was intrigued by who was paying us,” Redd said, according to Columbus Business First. “Our owners were the inspiration and motivation for me. Owning a basketball franchise was just a hobby for these guys. It was an interesting world. I didn’t find too many African American men in that world.”
22 Ventures
James tag-teamed with attorney John Weaver in 2019 to launch 22 Ventures, a VC firm that invests in entrepreneurs to grow stable companies, Columbus Business First reports.
As of 2020, Redd’s portfolio included more than 85 companies in the tech and media industries through his support as an angel investor, partner at Third Wave Digital, and through other funds, according to a press release. The same year, he became a venture partner in ADvantage Sports Tech Fund, a fund that invests in early-stage sports tech companies, per the release.
“We’re thrilled to welcome Michael to the ADvantage family,” said Jeremy Pressman, partner at ADvantage, in the news release. “Through his athletic achievements and experience over the last six years in venture investing, Michael has built an extensive global network and deep expertise in the business of sports and technology. We’re excited to be working with him to identify and build out the next generation of great sports tech companies that can benefit from his unique perspectives.”
Redd’s role at the sports fund focuses on bringing performance technologies down market and expanding their user base, according to a separate press release.
