NBA Star Carmelo Anthony Forms Media and Tech VC Firm with Stuart Goldfarb

Carmelo Anthony Starts Venture Capitol VC
Al Bello/Getty Images

M7 Tech Partners seeking to invest in early-stage digital media, consumer Internet and technology startups

Carmelo Anthony, the NBA All Star who recently re-signed with the New York Knicks, has formed a venture-capital firm, M7 Tech Partners, together with Stuart Goldfarb, former CEO of Bertelsmann Direct North America and ex-NBC exec.

M7 Tech Partners, based in New York, will invest in and develop early-stage digital media, consumer Internet and technology startups.

Anthony, who has 5.1 million followers on Twitter, said in a statement that “for as long as I can remember, I’ve been interested in technology.”

“We are actively looking for ventures with strong leaders creating breakthrough products that resonate with consumers,” he said. “I particularly have my eye on companies that are involved with wearable technology and connected devices — these will be huge areas for the future.”

According to Goldfarb, he and Anthony already have visited dozens of companies scouting possible investment targets “and are excited and optimistic about many of the relationships we are forging.” Prior to heading Bertelsmann’s direct marketing business for music, video and books in the 1990s, Goldfarb was an NBC exec VP of business development.

Also Monday, M7 announced that it made an initial investment in Hullabalu, a startup developing original storytelling apps for tablets, whose other backers include SV Angel, Gokul Rajaram, former Google exec and head of product engineering at Square, and Alexis Ohanian, co-founder of Reddit. NYC-based Hullabalu previously announced raising $1.8 million in seed funding.

The name of the venture stands for “‘Melo 7,” which is his nickname and Knicks jersey number. Anthony’s new contract with the James Dolan-owned Knicks, signed earlier this month, is worth more than $122 million over five years, ESPN reported.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading