Kevin Durant's ambition to be a venture capitalist seems to be inspired by The Players Technology Summit, recently hosted by his teammate Stephen Curry and Andre Iguodala, in adding a technology startup to his investment portfolio. Tech startup Rubrik obtained a new investment from Durant and added him as a board adviser for strategic marketing initiatives.
The amount of his investment has not been disclosed.
"I invest in game-changing companies with a winning spirit," Golden State Warriors star Durant said in a statement on Tuesday. "Rubrik is rising tech powerhouse taking on a $48 billion market opportunity.
I'm excited to support Bilpul an this team as they build global brand."
Rubrik has turned into the fastest-growing enterprise company in the billion-dollar start-up business since its founding in 2014. The Palo Alto-based company, which has raised more than $292 million in funding from investors, has backed businesses, governments and nonprofit organizations with data protection, search, analytics, archival and copy data management.
In addition to his investment in the cloud data management start-up firm, KD's umbrella corporation (the Durant Company) has contributed the money in other Silicon Valley's hottest tech companies, including Postmates, Acorns, Propel and Zenreach. The 2017 NBA Final MVP also made an additional investment in film and television development, hotels, and restaurants.
Durant said that because he is in Silicon Valley, he plays home basketball games at the arena in front of tech executives and meets them at restaurants.
NBA players become more tech savvy
As several professional athletes in the NBA become tech savvy, they scored investment in tech firms.
CNBC.com reported in June 2017 that Warriors star Curry initiated social media startup Slyce, a new technology that helps improve connections between athletes, influencers and fans on social media.
Warriors forward Iguodala has financed in electronic trading platform Trumid, Arianna Huffington's wellness company Thrive Global and health and beauty start-up Walker & Company.
Kobe Bryant, considered as one of the greatest players of his generation, chipped in $100 million for a venture fund called Bryant Stibel, focusing on funding technology, media, and data companies in the area of Los Angeles.
New York Knicks star Carmelo Anthony is a tech player who has launched the startup called Melo7 Tech Partners and has invested in 28 companies.
Darren Heitner, a Fort Lauderdale, Florida-based sports attorney who represents NBA players such as Draymond Green of the Warriors and Iman Shumpert of the Cleveland Cavaliers, noted to The USA Today that the NBA players with guaranteed contracts are capable of "leveraging investment opportunities to improve financial situations for a long-term security."
Because of Aaron Gordon's relationship with San Francisco-based sports psychologist Graham Betchart, the Orlando Magic star has taken a stake in Lucid Performance, a mental-fitness app that is designed to aid athletes to develop confidence and improve focus at the highest level.
Betchart wants to acquire other athletes to advertise the brand.
NBA's career development programs
The NBA has established career development programs that enhance personal and professional development, including money management, social media and health and wellness workshops. There is life after basketball; thus the league's Job Shadow Program is set to educate players regarding the business side of the technology companies like Google or EA Sports.
Credits are given to former Miami Heat star Chris Bosh and other athletes who studied in graphic design, information technology or engineering that can help prepare them for a post-playing career in the tech world.
