Ben Stokes and Stuart Broad are among the prominent athletes involved in the launch of a new venture capital fund, according to Sky News.
The Players Fund, which will be backed by £40m of funding committed by venture capitalists, will reportedly be backed by a group of leading sportsmen that are targeting a position in the densely populated arena of early-stage investments.
Other pivotal sporting investors in The Players Fund include cricketers Jos Butler and KL Rahul as well as former Premier League stars Chris Smalling, Serge Gnabry, and Hector Bellerin.
The fund is set to comprise of existing athlete-founded collectives such as 4CAST, which counts Stokes, Broad and the England fast-bowler Jofra Archer among its members; ForGood, which is headed by former Manchester United defender Smalling; and B-Engaged, which is led by Bellerín and Gnabry.
A US-based group headed by the former Wimbledon forward Robbie Earle, and which features prominent athletes including the NBA All-Star Carlos Boozer, is also involved.
Ben Stokes, England Cricketer and investor in The Players Fund, said, “Since starting 4CAST we have seen huge benefits of athletes and public figures coming together in business and we strongly believe athletes investing together cannot be underestimated.
“By combining our resources, networks and experience, we can achieve so much more collectively than as individuals.
“The Players Fund provides a structured way for athletes to confidently step into early stage investing and to do so alongside teammates and fellow athletes.”
The new vehicle’s launch comes amid a surge in the level of investment activity taking place involving leading sportspeople. Most recently NFL legend Tom Brady invested in Birmingham City and leading golfers Jordan Speith and Justin Thomas purchase shares of fellow Championship football club Leeds United.
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