Four-time NBA champion Andre Iguodala is retiring from professional basketball, but will immediately launch his next career in venture capital.
After playing 19 seasons and winning the 2015 NBA Finals MVP award, the 39-year-old will run a $200 million venture capital fund with longtime business partner Rudy Cline-Thomas.
Cline-Thomas, a minority owner and vice chairman of English soccer club Leeds United, is the founder of alternative asset manager MASTRY, which is rebranding as Mosaic General Partnership. The fund’s new website lists Iguodala and Cline-Thomas as two of five co-founders and managing partners.
Mosaic’s public portfolio includes NFL agency Athletes First, athlete wellness app Players Health, and live sports operating system Jump. The firm will now focus on seed- and early-stage investments in sports companies, enterprise software, and fintech health care.
Iguodala also just added a minority ownership stake in the San Francisco TGL team to his portfolio, which also includes investments in Leeds United and Bay FC, the expansion NWSL club set to launch in 2024.
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Iguodala’s move follows a recent trend of current and former professional athletes becoming more active investors. Kansas City Chiefs stars Patrick Mahomes and Travis Kelce were just part of a group that bought into the Alpine Formula 1 team.
Meanwhile, Goldman Sachs has created a new division called Sports Franchise in Investment Banking that will offer their clients the ability to buy into pro teams.