Michael Redd, a former NBA star and Olympic gold medalist, has joined the OurCrowd backed ADvantage Sports Tech Fund. According to OurCrowd, Redd is an active venture investor having supported more than 85 companies. Redd will now focus on innovative opportunities shaping the future of sports as a venture partner in the fund.
The ADvantage Sports Tech Fund is a global sports tech fund backed by leAD Sports and OurCrowd. The fund invests in early stage tech firms aimed at shaping the future of sports.
Currently based in Columbus, Ohio, Redd is expected to focus on the “intersection of sports and data,” targeting the convergence of wellness and athletics.
Since retirement in 2013, Redd has become a known angel investor and a partner at Third Wave Digital.
Redd said he was “humbled” to join the ADvantage team:
“I was blessed throughout my career to tour the world and specifically with Team USA gained exposure to how different cultures form their own sports and technology ecosystems with unique strengths. That’s why I’m excited to join the first team that’s actively sourcing ideas and talent from ecosystems around the world to advance our industry,” said Redd.
Jeremy Pressman, Partner at ADvantage, said they were thrilled to have Redd join the team:
“Through his athletic achievements and experience over the last six years in venture investing, Michael has built an extensive global network and deep expertise in the business of sports and technology. We’re excited to be working with him to identify and build out the next generation of great sports tech companies that can benefit from his unique perspectives.”
Redd sees opportunity in moving performance technologies down market and expanding its user base.
“The next application of these technologies I see is for the everyday consumer who is looking to improve their overall health and wellbeing,” Redd said. “As smartphones & software are beginning to do what formerly took a lab of medical equipment, the benefits and insights that I got from my professional trainers and coaches are going to be eclipsed by what’s available to weekend warriors and middle school athletes.”
Redd will be participating in the upcoming OurCrowd Global Investor Summit on February 13, 2020 in Jerusalem.
OurCrowd is the world’s top equity crowdfunding platform with $1.3 billion in committed capital boasting 35 exits. OurCrowd offers smaller investors single firm investments as well as a group of targeted funds.