NBA stars Ben Simmons, NFL quarterbacks Patrick Mahomes, Kyle Lowry, and DeAndre Ayton, and other well-known athletes, are limited partners in Andreessen Horowitz’s fund. Two more athletes have contributed to Andreessen Horowitz’s third fund, adding to the increasing list of athletes who have done so.
Patrick Mahomes And Bubba Wallace Join A16z Cultural Leadership Fund Aiming To Grow Black Wealth
A venture capital firm has assembled a dream team, and the latest recruits only add to the firm’s high profile.
Kansas City Chiefs quarterback Nascar driver Bubba Wallace and Patrick Mahomes are the newest additions to Andreessen Horowitz’s large list of athletes. There are no games with these investors.
The third Cultural Leadership Fund has been unveiled by Andreessen Horowitz, popularly known as a16z. This fund intends to aid black people to build wealth by investing in future technological companies. According to Forbes, NBA player Blake Griffin, NFL running back Leonard Fournette, and WNBA stars, Nneka Ogwumike and Maya Moore are among the athletes who have contributed to the base.
The Weeknd and Pharrell Williams are the musicians who have donated to the foundation. The fund capitalizes in a variety of software firms and seeks out black influencers in a variety of fields, together with business, music, and sports and it co-invests in a16z portfolio companies as well as a variety of Internet businesses.
In addition, NFL running back Leonard Fournette, musician Pharrell Williams, and pop singer The Weeknd have all signed on to “CFL III.” Online gaming maker Roblox, equity shares in blockchain business Dapper Labs, and publishing platform Substack are among CLF’s investments. As per the company, from 2018, A16z has made more than 60 million dollars.
In a statement sent to Forbes, Wallace called the cultural fund’s mission to improve access and fairness for black communities in tech essential work. Andreessen Horowitz announced their CLF fund in 2018.
Over the phone, Wallace, who became the face of NASCAR’s range campaign, told Forbes that he has seen how effective work can be done in terms of marketing and engaging with future generations. The fund, as per Wallace, provides a front-row seat to the technology that will describe the future and has an effect on our spreading black innovation and proprietorship in technology.
Kevin Durant of the Brooklyn Nets, hip-hop legends Sean Combs and Nas, and noted musical composer Quincy Jones were amongst the CLF’s first owners, which was released by A16z in 2018. CLF II was launched by A16z in June 2021. Moreover, a16z declared that it donated more than 2.5 million dollars in CLF management fees and pays to charitable organizations in order to widen the tech industry’s diversity.
According to A16z, it has more than $33 billion in property under administration. This encompasses funds that are from multibillion-dollar investments in companies like e-commerce firm Fanatics, crypto currency platform Coin base, and freight network Flex port.
CLF III investors are true representatives of cultural management, according to a16z partner Megan Holston-Alexander, who are enthusiastic about technology, eager about the innovation course, and aim to play a role in developing the long term.