Aaron Rodgers of the Green Bay Packers is known for his excellence on the football field. He’s not just athletically gifted, though; one needs a high IQ and the ability to think critically to lead a football team. Rodgers possesses all of these capabilities.
The 36-year-old has applied that acumen to the world of finance. With a $50 million venture capital fund, Rodgers has attracted many notable investors including celebrities and famous athletes.
Aaron Rodgers’ new business endeavor
Last summer, Rodgers signed a four-year, $134 million deal to stay in Green Bay. At the time, it was the largest deal in league history. Not one to rest on his laurels, the quarterback is investing his money back into businesses with his venture capital fund Rx3 Ventures.
Forbes reported on the details: “His fellow general partners in the fund are Byron Roth, CEO and co-founder of Roth Capital Partners, and Nate Raabe, who formerly ran Roth’s private capital group.”
According to Forbes, each of the three partners raised seven figures for the fund. They gathered the remaining amount from additional investors to hit the $50 million mark. The firm is based out of Rodgers’ native home of California.
Who is investing in Rodgers’ venture capital fund?
According to Roth, one of the firm’s most attractive components is the people who invest in it. Roth explained, “Our check size is not enough to move the needle. The investor based is a door opener and differentiator.” So who’s investing?
- Current ESPN college football analyst and Heisman Trophy winner Desmond Howard
- Former race car driver Danica Patrick
- Skateboarder Ryan Sheckler
- Quarterback Sam Darnold (one of a “half-dozen NFL quarterbacks in the fund,” according to Forbes)
Rodgers has considerable star power, so it’s no surprise he’s convinced other high-powered sports names to join him. It’s evidence of a prominent trend in the venture capital industry.
Other athletes involved in venture capital funding
Rodgers isn’t the only athlete exploring small businesses with high growth potential. Inc.com compiled a list of athletes who are dipping their toes into the VC water. The list includes heavy hitters across almost all the major sports:
- Steph Curry co-founded an app that helps celebrities manage their digital content known as “Slyce.”
- Magic Johnson is famous for being a shrewd and savvy businessman. He started a VC firm 30 years ago that includes a staffing startup known as Jopwell.
- Serena Williams invested in a photo-sharing app known as Mobli and an e-commerce app for hairstylists known as Mayvenn.
- Carmelo Anthony’s venture capital firm, Melo7 Tech Partners, invested in popular ride-sharing app Lyft.
- David Beckham invested in a live-streaming platform called MyEye.
- Joe Montana is a partner at a seed-stage fund based in San Francisco known as Liquid 2 Ventures.
- Steve Nash is the co-founder of a venture capital firm known as Consigliere Brand Capital.
- Troy Aikman founded Aikman Enterprises. His biggest win? Netting a tidy $6 million profit after selling his stock in the chicken wing chain Wingstop.
Rodgers and the aforementioned athletes are proof that this trend of athletes becoming heavily involved in VC won’t go away any time soon.