As an investor, Carmelo Anthony is continuing to pour into the sports industry.
The post Carmelo Anthony Joins Isos Capital To Launch $750M Fund For Sports Investments appeared first on AfroTech.
The NBA legend has partnered with Isos Capital Management founders Michelle Wilson and George Barrios to launch Isos7 Sports Investments, according to a press release. Isos7 aims to deploy $750 million in capital to sports leagues, teams, emerging properties, and ancillary businesses across North America, Europe, and pan-Asia.
The fund plans to provide a range of $50 million to $100 million for each of its sports investments.
“I’m excited to build on my experiences as an athlete, entrepreneur, and investor, and move to the next level of league and team ownership opportunities globally,” said Anthony, per the press release. “Stuart and I will shift our focus from Melo7 Tech Partners, where we had great success together, and partner with the team at Isos7 to leverage our deep relationships across the sports ecosystem and create value for all those involved. Our collective success will in turn further enable us to have a positive impact on underrepresented populations.”
As previously reported by AfroTech, Melo co-founded Melo7 Tech Partners to “invest in and develop opportunities primarily in early-stage digital media, consumer internet, and technology ventures.”
Isos7 Sports Investments is set to commit one percent of its profits to underrepresented and underserved communities, the press release details.
“We believe sports assets will continue to benefit from global macro tailwinds and secular industry trends driving significant, predictable, and stable growth,” said Barrios and Wilson. “We are thrilled to partner with Carmelo, a trailblazer for athletes in investing, business development, and philanthropy. We have a shared vision for how a new wave of diverse investors will identify global growth opportunities and impact the marketplace.”
Along with Anthony, Barrios, and Wilson, the Isos7 team includes industry veterans Rob Pietroforte and Stuart Goldfarb, who co-founded Anthony’s Melo7 Tech Partners.