NBA star Kevin Durant has launched Infinite Acquisition Corp., a blank-check company that filed for a $200 million initial public offering on Wednesday.
The SPAC will sell 20 million shares at $10 apiece and has pledged to redeem 100% of the shares for cash if it fails to acquire a company to take public within 18 months of its IPO.
Infinite will focus on acquisitions in sports, e-commerce, and cryptocurrency.
Durant serves as co-CEO of Infinite with Rich Kleiman, his business partner in Thirty Five Ventures, a VC firm launched by the duo in 2016.
Infinite adds to Durant’s growing list of investments in sports and tech.
- In March, he invested in Andbox, an esports organization and team operator.
- He took part in a $3.5 million seed funding round for Just Women’s Sports in May.
- He participated in a Series B round in July for OpenSea, an auction platform for NFTs.
- He joined in a $15 million round for collectibles trading app Rally in October.
- The same month, he was part of a group that invested $100 million in SeatGeek.
The two-time NBA champion is set to earn $87.9 million in 2021-22 between his $40.9 million salary and an estimated $47 million from off-court ventures.
