Aaron Rodgers co-founds $50 million venture capital fund
Packers quarterback (and part-owner of the Milwaukee Bucks) Aaron Rodgers and Danica Patrick appeared on the scoreboard Wednesday at the Bucks game. Milwaukee Journal Sentinel
Green Bay Packers quarterback Aaron Rodgers wants to help other athletes and celebrities get more skin in the game.
The game, in this case, is investment in companies.
Rodgers is a co-founder of Rx3 Ventures, a $50 million business growth fund that focuses on consumer-related companies such as CorePower Yoga, Privé Revaux sunglasses, VICIS helmets and Hydrow rowing machines.
The fund's pitch is that its partners and investors bring more to the table than just money. They have celebrity and they have networks of contacts. Rx3 promotes relationships where the celebrities are stakeholders in a brand's long-term success.
"As professional athletes, we're constantly approached with investment opportunities," Rodgers said in a news release announcing the fund. "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 has to be authentic."
Deal flow describes the rate at which business proposals and investment pitches are being received by financiers such as investment bankers and venture capitalists, according to online site Investopedia.
General partners in Rx3 Ventures, based in Orange County, Calif., are Rodgers, Byron Roth, CEO and cofounder of Roth Capital Partners, and Nate Raabe, who was director of Roth's private investment group. Investors in Rx3 include former Packers player Desmond Howard and former race car driver Danica Patrick, who is dating Rodgers.
In addition to professional athletes, investors include musicians, actors and entrepreneurs. The fund's mission is to use its experience, relationships and capital to take brands to the next level of growth.
"Rx3 stands out from other consumer funds due to its unique combination of institutional expertise and a powerful influencer network," said Alex Bhathal, former CEO of RAJ Swim and co-owner of the Sacramento Kings, an Rx3 investor himself.
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