Former NBA Star Andre Iguodala’s $200 Million Venture Capital Fund Shows His After Retirement Plans
Andre Iguodala, a former four-time NBA champion, has made a significant career move after retiring from professional basketball. In his 19-year basketball career, he won four NBA titles with the Golden State Warriors and earned the NBA Finals MVP title in 2015. He also played for other teams like the Philadelphia 76ers, Denver Nuggets, and Miami Heat.
In addition to his basketball achievements, Iguodala also won a gold medal at the 2012 London Olympics as a member of Team USA. That same year, he had the honor of being named an NBA All-Star.
Iguodala explained his decision to retire to ESPN, saying, “It’s just the right time. Time started to get limited for me, and I didn’t want to put anything in the back seat. I didn’t want to have to try to delegate time anymore.”
Now, at 39 years old, he is heading up Mosaic, a venture capital fund with a staggering $200 million at its disposal. He co-founded this fund with his long-time business partner, Rudy Cline-Thomas. Their focus is on supporting early-stage companies involved in software development, fintech, and sports-related ventures.
Mosaic has already made some notable investments, including Vessel, a company that builds modular multi-family homes, and Athletes First, a talent agency and management firm for NFL players. Another significant part of their strategy is investing in major sports franchises.
Iguodala is no stranger to sports investments, as he’s already an investor in English soccer club Leeds United, the National Women’s Soccer League expansion team Bay Area FC, and a San Francisco-based team in a golf league founded by Tiger Woods and Rory McIlroy known as TGL. His ultimate goal is to own an NBA team, but he recognizes that timing is crucial for such a venture.
This shift to venture capitalism has been in the works for a while. Iguodala and Cline-Thomas started investing in tech stocks back in 2010. Iguodala’s move to the Golden State Warriors in 2013 was driven by his desire to connect with the tech world.
“When I initially went out to the Bay Area, it was my intent to have success on and off the court,” Iguodala explained. “I thought about how to get access.”
Since then, Iguodala and Cline-Thomas have been involved in the growth of several startups, including Allbirds, Hims, Coinbase, and Carta. He also made a wise investment in the video conferencing platform Zoom before the COVID-19 pandemic. They’ve invested in companies that have gone public successfully, like Jumia and PagerDuty.
Iguodala shared his investment strategy via Forbes, saying, “I think I always try to first work with good people, great minds. We always say, ‘You invest in the company, you invest in the person.’ You know you’re investing in the founder, you’re investing in the CEO, you’re investing into the person with the vision more so than the company. There’s a lot of great ideas out there but the execution is key. You’ve got to have people who execute, build great teams, who understand the hard work ethic that you need to have to overcome obstacles and put the right minds together.”
In this new phase of his career, Andre Iguodala aims to make a significant impact in venture capitalism and sports investments.