Andre Iguodala Is Retiring From Basketball To Start A $200 Million Venture Fund

By on October 23, 2023 in ArticlesSports News

Andre Iguodala spent the first eight seasons of his career with the Philadelphia 76ers. That time included some good moments with another AI teammate (Allen Iverson) and one of the greatest dunks in Slam Dunk Contest history. Yet Iguodala was still without a championship by the time the Sixers traded him to the Denver Nuggets in 2012. He spent one season in Denver, turning down a five-year contract extension from the Nuggets to head to the Golden State Warriors.

Iguodala had to adjust to a new role on the court. After eight straight seasons of scoring between 12.3 and 19.9 points per game, Iguodala never averaged double figures in a season for the rest of his career. But his tenure with the Warriors was plenty successful. He won four championships, including a Finals MVP in 2015, and proved to be a strong defender and an insightful teammate. Just as importantly, he had a home in the Bay Area, the perfect place to build up a network in the tech industry.

Now, Iguodala is officially all-in on tech. The 39-year-old announced his retirement from the NBA and will work with his business partner Rudy Cline-Thomas to run Mosaic General Partnership, which just raised a $200 million fund. The firm will provide early-stage funding for companies in enterprise software, fintech, and sports.

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Cline-Thomas founded Mastry Ventures in 2021, which is being rebranded to Mosaic. It's another big move for the duo, who became co-owners of the Leeds United English soccer club in July.

Iguodala said that when he moved to the Bay Area in 2013, "it was my intent to have success on and off the court." He looked for ways to get access to different tech companies, and now he'll have even more time to focus on the next big thing. Mosaic previously invested in several companies that have seen impressive growth, including Poshmark, Toast, Uber, and Zoom.

Kevin Durant joined part of Iguodala's stint with the Warriors, spending three years with the team. Like Iguodala, Durant used his proximity to Silicon Valley to become a venture capitalist. He co-founded 35 Ventures with his agent Rich Kleiman in 2016 and hasn't slowed down since. The VC firm has invested in 61 investments to date.

Mosaic currently has nine companies in its portfolio. Iguodala may not have won that dunk contest back in 2006, but we'd bet on him winning with his new venture.

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