Aaron Rodgers is an athlete, an influencer and now, a venture capitalist.
The football star, Super Bowl champion and long-time quarterback for the Green Bay Packers has teamed up with ROTH Capital Partners’ Nate Raabe and Byron Roth to launch Rx3 Ventures. Today, the trio are announcing a $50 million debut fund focused on the consumer market.
The fund is supported by influencers in the sports and entertainment market, with a goal of giving them a stake in the companies for which they are hired to be spokespeople. Influencer marketing continues to gain traction; Rx3 wants to ensure authentic, equitable relationships between brands and public figures.
“As professional athletes, we’re constantly approached with investment opportunities,” Rodgers said in a statement. “With more and more access to deal flow, it’s hard for any athlete or high-profile individual to adequately evaluate each opportunity. We are in a unique position to help drive positive outcomes for companies, particularly consumer brands, but the relationship needs to be authentic. With Rx3, I saw the opportunity to create an investment platform that brings together a group of like-minded influential investors and their respective networks with the backing of institutional resources.”
Rx3 has invested in a number of startups already, including VICIS, known for its $950 Zero1 football helmet designed for adult players. The startup raised a $28.5 million Series B in November, with participation from Rodgers, as well as other pro footballers, including Roger Staubach, Jerry Rice, Russell Wilson and Doug Baldwin.
Rx3, which invests alongside consumer private equity and growth capital funds, has also backed Hims, CorePower Yoga, glasses retailer Privé Revaux and Hydrow, a maker of indoor rowing machines.
Source: TechCrunch
