Iconic sports agent Leigh Steinberg is launching venture capital initiative Steinberg Ventures to invest in emerging companies and start-ups in sports and entertainment.

Steinberg Ventures is a partnership with private equity firm Alpha Strategies, led by founder and President Jay Rogers. It will leverage relationships and opportunities sourced primarily through the Steinberg Sports & Entertainment agency, led by Steinberg and Chief Operating Officer Chris Cabott.

Steinberg has represented the No. 1 overall pick in the NFL draft eight times and his clients have included Steve Young, Troy Aikman and Warren Moon. He was the basis for Tom Cruise’s character in 1996’s “Jerry Maguire” and served as a technical consultant on the film.

The joint venture will explore sports-related investments and start-ups ranging from entertainment projects such as movies, TV pilots and digital content to sports properties, consumer goods, food and beverage, sports safety and health, concussion-related products, apparel, gaming and apps. That focus will include stadium financing, franchise purchases and relocations.

“The expertise of Jay and his team gives us the ability to analyze and evaluate the investment potential for all the exciting deals that we encounter,” Steinberg said. “There are promising businesses with innovative ideas emerging daily in the sports and entertainment space — we want to help them achieve their goals.”

Alpha Strategies specializes in working with high net worth individuals, family offices and institutional investors. It has syndicated over $1.5 billion in private equity, venture capital, hedge funds and real estate.

“Leigh is a visionary in the sports industry who has always been able to recognize value beyond the numbers on a contract,” said Rogers. “When you consider how large and diversified the sports, health and fitness, media and entertainment industries have become, you get a sense of the upside potential for Steinberg Ventures.”

Alpha Strategies executives Andreas Saucedo and James Wynne have joined in the venture. Saucedo formerly held senior positions as an alternative investment specialist at Man Investments, Meridian Capital Partners, UBS and Merrill Lynch.

Wynne is a former William Morris Agency executive and a senior consultant specializing in the media, technology and sports industries. He’s advised Disney, Fox, NBC Universal, General Motors and the NFL.