Michael Jordan invests in the Courtside Ventures VC fund

After adding greater than $2 billion to his personal fortune after selling the NBA’s Charlotte Hornets, basketball legend Michael Jordan put a few of his money right into a sports fund to boost $100 million.

According to Sportico, Jordan does investing in the Courtside Ventures enterprise capital fund, which focuses on sports, lifestyle and gaming.

The media received a text message from certainly one of Courtside Ventures’ business partners, Curtis Polk, confirming the details about Jordan’s investment. The amount he invested was not disclosed.

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

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

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

In June, the company submitted approx Form D with the U.S. Securities and Exchange Commission outlining Courtside Ventures’ intentions to boost $100 million in its fourth round of funding. A complete of $190 million was raised in the first three rounds.

Jordan plays the role of an influence player. According to , he recently became the owner of a brand new Gulfstream G650ER private jet, useful for roughly $65 million.

Jordan has turn out to be an astute businessman since he retired from basketball and commenced investing in many ventures that increase his profits.

He and Polk, together with their 23XI Racing partner, racer Denny Hamlin, recently filed an antitrust lawsuit with one other automotive owner, Front Row Motorsports, against NASCAR and CEO Jim France, alleging that it engaged in anticompetitive practices to forestall fair competition on the sports market.