NBA Player Carmelo Anthony, Media Exec Stuart Goldfarb Start Tech Investment Firm
New York-based M7 Tech Partners has made its first investment in interactive storytelling startup Hullabalu.
NBA player Carmelo Anthony has partnered with longtime media executive Stuart Goldfarb to take his skills from the basketball court to the boardroom.
The duo have formed New York-based M7 Tech Partners to invest in early stage digital media, consumer Internet and technology firms. Their first investment is Hullabalu, which makes storytelling apps for the iPad.
Anthony, who recently renewed his contract with the New York Knicks in a deal that ESPN reported at more than $122 million, said in a statement that he's long had an interest in technology.
"We are actively looking for ventures with strong leaders creating breakthrough products that resonate with consumers," he said. "I particularly have my eye on companies that are involved with wearable technology and connected devices — these will be huge areas for the future."
Goldfarb — who was previously CEO of Bertelsmann North America and executive vp at NBC — brings years of media and marketing experience to the partnership. He and Anthony have already met with dozens of companies on both coasts and he noted that they are "excited and optimistic about man of the relationships we are forging."