New York Knicks star Carmelo Anthony is jumping into the venture-capital world.
He has teamed up with former NBC executive Stuart Goldfarb to create the New York-based investment firm M7 Tech Partners, TechCrunch reported Monday, with a focus on early-stage funding of digital media, consumer Internet, and tech startups.
The name "M7" stands for "'Melo seven," a combination of Anthony's nickname and jersey number.
The firm's first investment is in New York-based children's media company Hullabalu. Other investors in Hullabalu include SV Angel and Alexis Ohanian, Reddit's co-founder.
Anthony is part of a growing roster of current and former NBA players who have gone into venture capital and investing, with former Dallas Mavericks player Jamal Mashburn launching a VC firm last September. The LA Lakers' Steve Nash creating a marketing and VC firm in 2010, and former San Antonio Spurs star David Robinson co-founded a real-estate fund a few years before that.