Comcast Ventures, the corporate venturing arm of mass media group Comcast, has hired professional basketball player Andre Iguodala as a venture partner for its Catalyst Fund.
Formed in 2011 with $20m of capital, Catalyst Fund concentrates on startups at seed and series A-stage with founders from underrepresented minority groups. Its 26-strong portfolio includes community lodging network operator Starcity and legal-analysis software provider Ross Intelligence.
Iguodala is a prolific investor who has backed about 40 companies including footwear manufacturer Allbirds, eSports team owner Swift, second-hand clothing marketplace Twice and video conferencing technology producer Zoom Video Communications.
Iguodala has also invested in and sat on the board of Jumia, the Africa-focused online marketplace that went public in April 2019, but is best known in the wider world for winning three NBA titles as a shooting guard for basketball franchise the Golden State Warriors.
Although the Warriors play out of San Francisco, the same city in which Catalyst Fund is based, Iguodala was traded to the Miami Heat, on the opposite coast of the US, yesterday, the day after his appointment to the fund was announced.
Amy Banse, managing director and head of funds for Comcast Ventures, said: “Andre’s investment experience and network, coupled with his passion for supporting entrepreneurs from diverse backgrounds, is a perfect fit for our Catalyst Fund.
“Together, we can offer early-stage companies unique resources for growth, building on our vision of a startup ecosystem full of founders creating technologies for a diverse world.”
Iguodala added: “I have admired Comcast NBCUniversal’s commitment to invest in startups with founders who are typically underrepresented in the venture world. Together, we have unique experiences and resources no other venture firm has to help founders grow their companies.”
Photo of Andre Iguodala courtesy of Comcast Catalyst Fund.
