Naismith Memorial Basketball Hall of Famer Ralph Sampson has signed on to SeventySix Capital’s athlete venture group. The fund is positioning itself as the go-to platform for professional athletes looking to partner with experienced venture capitalists. Its athlete venture group allows players to invest in and work more directly with top sports tech startups and founders.
Sampson, a retired four-time NBA All-Star, the 1985 All-Star Game MVP, and a three-time college player of the year with the University of Virginia, will work with the sports venture fund to help connect athletes and investors with entrepreneurs. Over the span of his nine-year NBA career, Sampson scored more than 7,000 points and had more than 4,000 rebounds.
SeventySix Capital is led by MLB rookie of the year and 2006 National League MVP Ryan Howard, who has worked to populate the fund’s team with some of the most storied athletes in history. Sampson joins a team of athletes that includes retired NFL running back DeMarco Murray.
“I’ve always been passionate about making an impact in the business world, just as I did on the court,” said Sampson in a statement. “This is a unique opportunity for me to use my network in a meaningful way, including the University of Virginia, the NBA and beyond.”
Philadelphia-based SeventySix Capital, led by venture capitalists Wayne Kimmel and Jon Powell, invests specifically in sports technology. Some of the companies active in its portfolio include Whistle Sports, ShotTracker, N3rd Street Gamers, VSiN, Swish Analytics, and Play by Play Sports Broadcasting.
With the fund’s athlete venture group, Sampson will enable more athletes to work with startups in esports, sports betting, data collection, data analytics, and media.
“Adding an NBA Hall of Famer to the team helps to validate what we’re building,” Howard said. “He really fits our philosophy of bringing together knowledgeable people with a big vision. We’re going to continue to recruit top talent like Ralph to add to our championship team.”
SportTechie Takeaway
Athletes are increasingly tech-savvy and increasingly on the hunt for investment opportunities. SeventySix Capital feeds into that trend by building a team of all-star athletes that can tap into their networks to get more high-net-worth athletes involved in the VC world.
“We’re introducing opportunities to athletes and entrepreneurs that are mutually beneficial,” said Kimmel. “Athletes can use and grow their network while providing an unfair advantage to help startups differentiate themselves.”
Golden State Warriors teammates Andre Iguodala and Stephen Curry have led a similar charge on the West Coast, hosting the second annual Players Technology Summit in San Francisco this summer.