Former NBA all-star Michael Redd is joining a major venture investment firm to source new sports technologies and advance development in new products in the sports world.
Redd, who is well-known for winning gold in the 2008 Olympics and for his stellar tenure with the Milwaukee Bucks, will serve as a venture partner with the ADvantage Sports Tech Fund, a global sports tech fund backed in part by Israeli investment firm OurCrowd.
Since his retirement from Basketball in 2013, Redd has been active in the investment field, invested in over 85 companies as an angel investor, as well as becoming a partner at Third Wave Digital. This is part of a growing trend of former athletes who transition into investing in technology after retiring from sports.
“I’m humbled to join the ADvantage team and excited to be… investing in the best teams pioneering sports technologies globally,” Redd said.
“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.”
Redd’s career was derailed by injuries on multiple occasions, most notably a torn MCL and ACL in 2009-2010. As such, his investments have mostly focused on improving the well-being of athletes.
“The potential today for the right mix of technologies and data to prolong and enhance the playing days of professionals and amateurs alike, can unlock human potential and underpin an enormous industry,” he said.
“The next application of these technologies I see is for the everyday consumer who is looking to improve their overall health and well-being.
“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.”
“We’re thrilled to welcome Michael to the ADvantage family,” said Jeremy Pressman, a partner at ADvantage.
“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 is currently slated to participate in the OurCrowd Global Investor Summit in Jerusalem on February 13.