Michael Jordan Invests In VC Fund, Courtside Ventures

The VC fund focuses on sports, lifestyle, and gaming.

After adding more than $2 billion to his personal fortune after selling the NBA’s Charlotte Hornets, basketball legend Michael Jordan has placed some of his money into a sports fund to raise $100 million.

According to Sportico, Jordan is investing in a venture capital fund, Courtside Ventures, which focuses on sports, lifestyle, and gaming.

The media outlet received a text message from one of the business partners of Courtside Ventures, Curtis Polk, confirming the information about Jordan investing. The amount he invested was not disclosed.

Polk is Jordan’s business partner and co-owner of the NASCAR outfit 23XI Racing.

The company’s website lists The Athletic, 100 Thieves, and Jackpot.com as part of its portfolio. According to the LinkedIn profile for Courtside Ventures, it was started in 2015 and is headquartered in New York.

Deepen Parikh, Vasu Kulkarni, and Kai Bond are the partners. Former NFL player Larry Fitzgerald and former DraftKings executive Sean Hurley are among the group’s advisors.

In June, the company filed a Form D with the U.S. Securities and Exchange Commission outlining Courtside Ventures’ intentions to raise $100 million for its fourth round of funds. A total of $190 million was raised through the first three rounds.

Jordan is playing the part of a power player. According to Private Jet Clubs, he recently became the owner of a new private jet, a Gulfstream G650ER, valued at approximately $65 million.

Jordan has been an astute businessman since retiring from basketball, investing in many ventures that add to his bottom line.

He and Polk, along with their 23XI Racing partner, race car driver Denny Hamlin, recently filed an antitrust lawsuit with another car owner, Front Row Motorsports, against NASCAR and CEO Jim France, stating that it has used anticompetitive practices to prevent fair competition in the sport.