Carmelo Anthony, already a superstar forward for the New York Knicks, is looking ahead to his next act as a venture capital mogul.
Coupling his longtime interest in technology with a desire to promote entrepreneurship, Anthony and his partner Stuart Goldfarb (also a pretty big deal) formed Melo7 Tech Partners to build a lasting legacy beyond the basketball court.
“The money is enticing but it’s also the thrill of being involved with businesses and companies that’s changing the world today. Tech is changing the world in everything we do, whether it’s sports, fashion, music…. regardless of what it is tech is changing the world,” Anthony said.
After linking up socially, Goldfarb and Anthony began discussing business ideas and technology, in part because of Anthony’s recent exposure to wearable devices.
The Knicks were using the wearable device Catapult to provide data and analytics on the team’s performance and Anthony was intrigued. “In the NBA everything is data. Everything is data driven,” he said.
But Melo’s interest in the industry extends beyond sports.
“Everybody wants to be heard and technology gives people the opportunity to be heard,” the Knicks star said.
More than just giving people a voice, these new technology innovations give people a new way of seeing, and that’s exciting for both Anthony and Goldfarb. Goldfarb actually mentioned virtual reality and augmented reality devices as technologies that were interesting investment opportunities for the fund.
“For me the most interesting thing is fan engagement,” Anthony said. Virtual reality could give fans at home an opportunity to experience a game as if they were courtside,” he said. And who wouldn’t want that?
Sometimes, though, Anthony’s status and position in the NBA means there are actually interesting investment opportunities that the two can’t finance. “I’d love to invest in a weed business,” Goldfarb admitted. “We can’t.”