Venture Capital

Kobe Bryant says he’d rather be known for venture investing than basketball

Kobe Bryant: No greater feeling than helping entrepreneurs
Kobe Bryant: No greater feeling than helping entrepreneurs

Five-time NBA champion Kobe Bryant told CNBC on Monday he'd rather be remembered for his role in jump-starting tech companies than his skills on the court.

Bryant has been investing alongside entrepreneur and former CEO Jeff Stibel for a number of years, but the pair made their partnership a more formal affair on Monday by announcing they are launching a $100 million investment fund called Bryant Stibel. It's focused on funding technology, media, and data companies.

"Playing basketball, the focus is always on winning. Winning championships, winning championships, winning championships. Now, championships come and go. There's going to be another team that wins another championship, another player that wins another MVP award." Bryant told CNBC's "Squawk on the Street."

"But if you really want to create something that last generations, you have to help inspire the next generation, and they create something great, and then that generation will inspire the one behind them, right? And that's when you create something forever. And that's what's most beautiful," he said.

Kobe Bryant speaks during an interview on CNBC at the New York Stock Exchange in New York City, August 22, 2016.
Brendan McDermid | Reuters

Among Bryant Stibel's current investments are videogame maker Scopely and online legal tech firm LegalZoom.

Bryant, who retired from the NBA last season at age 37 after a 20-year career with the Los Angeles Lakers, acknowledged that balance sheet analysis is Stibel's strength, whereas he is more focused on storytelling and branding. He said Nike CEO Mark Parker is one of the chief executives he most admires and has been mentoring him throughout his second career as a venture capitalist.

"M.P. for me has been everything," he said.