Kevin Hart is bulking up his investment portfolio.
The actor and comedian has taken an equity stake in sports nutrition company Nutrabolt through his private investment firm and will endorse the company’s C4 products. Terms of the deal are not public.
“This isn’t just an ambassador play,” Hart told CNBC. “This is really about merging my real lifestyle with a product that I genuinely use.”
C4 lists Los Angeles Sparks’ player Te’a Cooper as a current brand ambassador and is sponsoring multiple players entering the 2021 NFL draft, as well as MLS team Austin FC.
“Everything is on the table,” Nutralbolt CEO Doss Cunningham said. “We’re focused on continuing to broaden our reach and currently working on bringing a diverse group of athletes, artists, and other brand ambassadors into the fold. … We’ll see that roster in 2021 grow.”
Hart invested in Black-owned Ellis Island Tea less than a year ago and has expressed a commitment to educating more Black people about equity and ownership. He cited Jay-Z’s recent champagne deal with LVMH as an inspiration.
“When you talk about us as Black men, we don’t get the world of business and money taught to us,” Hart said. “I feel like it’s our job to go back and inform, and that’s what I’m trying to do.”
C4’s beverage sales surged by 163% in 2020, and Nutrabolt’s retail sales reached nearly $650 million. The pre-workout supplements market was valued at $12.6 billion in 2019.