
Investments
23Portfolio Exits
1Funds
22About Next Play Capital
Next Play Capital is a minority-owned investment platform focused on investing in venture funds and venture-backed companies. The firm was founded in 2014 and is based in Redwood City, California.
Latest Next Play Capital News
Oct 7, 2025
From The Locker Room To The Boardroom: The Rise Of The Athlete Investor Gina MarrsOctober 7, 2025 From stadiums to startups, today’s athletes are proving that success doesn’t end when the final whistle blows. A growing number of sports stars are taking their competitive edge from the pitch, court or field into the world of business and venture capital. These are individuals who have mastered high-pressure environments, honed strategic thinking and built global brands – qualities that translate seamlessly into the world of investing. Of course, it certainly helps that that plenty of these incredibly successful athletes have made a decent amount of money during their careers too. From LeBron James and Serena Williams to Virat Kohli and Tom Brady, these icons are backing bold ideas, founding companies and helping shape the industries of tomorrow. They’re not just lending their names to brands, they’re putting capital, credibility and creativity on the line. Whether it’s tech, wellness, fashion or sustainability, the new generation of athlete investors is redefining what it means to win, proving that after sport, the game is far from over. What makes athletes such powerful investors isn’t just wealth, it’s mindset. Years of discipline, resilience and split-second decision-making on the field translate remarkably well into business strategy. They understand risk, performance and how to surround themselves with the right team. After retirement, many athletes face a familiar challenge: maintaining purpose and momentum once the roar of the crowd fades. In fact, for some, this realisation begins to dawn on them before they’re even retired. For stars like LeBron James and Serena Williams, investing became the next form of competition – it became a way to stay driven, create impact and extend their legacy beyond sport. Their venture activity reflects a new breed of investor: data-savvy, values-led, and unafraid to take smart, calculated risks. Startups crave visibility, credibility and connection – three things elite athletes have in abundance. Their names open doors, but their experience under pressure keeps those doors open. From technology and health to sustainability and media, these investors aren’t just chasing returns; they’re shaping culture. Take Naomi Osaka’s investments in mental health startups, or Tom Brady’s move into wellness tech. These aren’t vanity projects, they’re value-driven. Many athletes are drawn to businesses that align with their personal philosophies: performance, wellbeing and community. It’s no coincidence that venture capital is fast becoming sport’s favourite “second act.” Here are some athletes, across several different sports, who have made the shift from star athlete to big-time investor. LeBron James has gone far beyond basketball, building a business empire rooted in smart investments and ownership. Through SpringHill Company, which he co-founded, LeBron combines media, storytelling and brand partnerships with a clear entrepreneurial vision. He’s also invested in Blaze Pizza, Lobos 1707 Tequila and even became a part-owner of Liverpool FC through his partnership with Fenway Sports Group. LeBron’s strategy blends cultural influence with sharp business insight, proving he’s as much a force in boardrooms as he is on the court. His approach has inspired a generation of athletes to think like investors, not just endorsers. Indian cricketer KL Rahul has steadily built a business portfolio centred on health, fashion and technology. He co-founded Gully, a streetwear brand inspired by urban India, and has invested in sports tech startups focused on performance tracking. Rahul’s approach is deeply personal – combining his love for design and fitness with entrepreneurial experimentation. As a new-age athlete investor , he represents the changing face of Indian sports business, where players are not just endorsers but founders and funders. Rahul’s ventures show an understanding of branding, youth culture and the business potential of India’s booming startup scene. Known for grace on the tennis court, Roger Federer has brought that same finesse to business. He co-founded On Running, the Swiss performance footwear brand now valued at billions after its IPO. Federer isn’t just a brand ambassador – he’s an equity partner and product collaborator. Beyond On, he’s invested in Swiss startups, hospitality and sports tech ventures that align with his values of precision and innovation. Federer’s transition from player to investor has been marked by quiet confidence and strategic thinking, cementing his place among the most successful athlete entrepreneurs of all time. Shaquille O’Neal’s business instincts are as dominant as his basketball career once was. After retiring, he built a vast portfolio of investments in Google, Ring, Papa John’s and Auntie Anne’s, among others. Shaq’s philosophy is simple: only back companies he personally believes in or uses. His venture interests span tech, food and entertainment – all sectors where his brand naturally thrives. Beyond investing, Shaq is also a sought-after business speaker and brand strategist. His success illustrates how charisma, credibility and curiosity can be powerful tools in venture capitalism, allowing athletes to thrive as both entrepreneurs and investors. Fast bowler Jofra Archer represents the modern, globally connected athlete investor. Though early in his investment journey, Archer has expressed interest in sports tech, AI analytics and gaming startups – industries aligning with his personal passions. His endorsements and business partnerships reflect a forward-looking approach, blending digital culture with athleticism. Archer has also supported youth entrepreneurship initiatives, signalling a commitment to community upliftment alongside profit. As his cricket career evolves, so too does his reputation as an emerging investor with global sensibility and tech curiosity. Tom Brady’s post-NFL career shows the precision of a quarterback translated into business. He co-founded Autograph, an NFT and digital collectibles platform that connects fans with athletes and TB12, a performance and wellness brand rooted in his own training philosophy. Brady has also invested in AI-driven fitness startups and wellness companies, merging his passion for performance with the future of technology. Beyond endorsements, his portfolio reflects an understanding of branding, digital transformation, and longevity – values that defined his career. In the business world, Brady is building a legacy just as enduring as his time in football. Serena Williams has built a venture capital legacy that rivals her tennis career. In 2014, she founded Serena Ventures, a VC firm focused on early-stage startups with diverse founders. Her portfolio includes over 70 companies, such as MasterClass, Impossible Foods and Coinbase. Serena’s philosophy is rooted in empowerment – investing in businesses that reflect innovation and inclusion. She’s also an advocate for financial literacy among athletes. With her mix of intuition and business savvy, Serena has redefined what post-retirement success looks like, becoming one of the most influential voices in the global venture capital landscape. Hall of Fame quarterback Steve Young made one of the most seamless transitions into venture capital. After football, he co-founded HGGC, a leading private equity firm managing billions in assets. Young’s firm focuses on middle-market companies, applying the same teamwork and strategic discipline he learned on the field. His leadership style blends humility with analytical precision, earning him respect far beyond sports circles. Unlike many athlete investors, Young’s role isn’t symbolic – he’s actively involved in deal-making and portfolio growth. His story proves that the skills that win championships can also drive corporate success at the highest level. Magic Johnson was one of the first athletes to redefine post-career success through entrepreneurship. In 1987, he founded Magic Johnson Enterprises, which has since grown into a multi-billion-dollar investment firm focusing on urban development, hospitality and tech startups. His partnerships with Starbucks, Sodexo and Canyon Capital demonstrate his long-term commitment to community-focused business. Today, Magic is also a co-owner of the LA Dodgers and Washington Commanders, using sport as a bridge to enterprise. His story shows how vision and leadership can turn athletic fame into generational wealth and positive economic impact. Former NFL linebacker Ryan Nece took his competitive spirit into venture investing. After his playing career, he co-founded Next Play Capital, a firm that connects athletes and tech opportunities through venture funds and direct investments. Nece’s vision is to give athletes and professionals access to Silicon Valley’s innovation ecosystem. His firm has invested in major players like Robinhood, Impossible Foods and Lyft. By bridging sport and tech, Nece has built a platform for athlete-driven investing that focuses on long-term impact, education and community wealth, proving that influence and insight can create sustainable change in finance. Tennis star Naomi Osaka has become a trailblazer in athlete entrepreneurship. Through her company Kinlò, she launched a skincare line for melanated skin, combining business with purpose. Osaka has also invested in Modern Health, a mental wellness startup, and co-founded Hana Kuma, a media company amplifying diverse stories. She’s also part of ownership groups in North Carolina Courage (NWSL) and Pickleball teams. Osaka’s business moves reflect a broader mission, empowering representation, wellness and diversity in venture spaces. Her approach shows how the new generation of athletes are shaping industries beyond their sport. Cricket superstar Virat Kohli has turned his competitive drive into a diverse investment portfolio. Beyond endorsements, he’s co-founded One8 (his own lifestyle brand) and invested in Sports Convo, Chisel Fitness and Blue Tribe Foods, a plant-based startup. Kohli’s business interests blend fitness, sustainability and technology – all extensions of his personal brand. He’s also invested in venture capital funds targeting Indian startups, positioning himself as a key figure in the country’s evolving entrepreneurial scene. Kohli’s strategy is not just about wealth but long-term influence, using his platform to promote innovation and responsible consumer choices. England’s cricket captain Ben Stokes has begun making waves beyond the pitch with investments in sports tech and data analytics startups. Known for his tactical understanding of the game, Stokes applies the same analytical mindset to business, backing companies that merge performance science with innovation . He’s part of a new generation of cricketers who see the value of tech-driven sport management. Stokes has also expressed interest in sustainability-focused ventures, showing a growing awareness of the future of both sport and business. His early steps into investment suggest a promising post-career evolution as a strategic entrepreneur. Related Articles
Next Play Capital Investments
23 Investments
Next Play Capital has made 23 investments. Their latest investment was in Coactive as part of their Series A on March 22, 2023.
Next Play Capital Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
|---|---|---|---|---|---|---|
3/22/2023 | Series A | Coactive | $10.4M | No | AME Cloud Ventures, Andreessen Horowitz, Bessemer Venture Partners, Eli Collins, Exceptional Capital, Fei-Fei Li, Jure Leskovec, and SV Angel | 3 |
3/21/2023 | Seed VC | Coactive | $3.6M | Yes | AME Cloud Ventures, Andreessen Horowitz, Bessemer Venture Partners, Eli Collins, Exceptional Capital, Fei-Fei Li, Jure Leskovec, and SV Angel | 2 |
3/7/2023 | Series A - II | Believer | $30.01M | Yes | 1Up Ventures, Alumni Ventures, Andreessen Horowitz, BITKRAFT, Cleveland Avenue, Lightspeed Venture Partners, Riot Games, Tornante Company, Undisclosed Venture Investors, Upfront Ventures, and Villam Ventures | 4 |
10/13/2022 | Series B | |||||
6/20/2022 | Pre-Seed |
Date | 3/22/2023 | 3/21/2023 | 3/7/2023 | 10/13/2022 | 6/20/2022 |
|---|---|---|---|---|---|
Round | Series A | Seed VC | Series A - II | Series B | Pre-Seed |
Company | Coactive | Coactive | Believer | ||
Amount | $10.4M | $3.6M | $30.01M | ||
New? | No | Yes | Yes | ||
Co-Investors | AME Cloud Ventures, Andreessen Horowitz, Bessemer Venture Partners, Eli Collins, Exceptional Capital, Fei-Fei Li, Jure Leskovec, and SV Angel | AME Cloud Ventures, Andreessen Horowitz, Bessemer Venture Partners, Eli Collins, Exceptional Capital, Fei-Fei Li, Jure Leskovec, and SV Angel | 1Up Ventures, Alumni Ventures, Andreessen Horowitz, BITKRAFT, Cleveland Avenue, Lightspeed Venture Partners, Riot Games, Tornante Company, Undisclosed Venture Investors, Upfront Ventures, and Villam Ventures | ||
Sources | 3 | 2 | 4 |
Next Play Capital Portfolio Exits
1 Portfolio Exit
Next Play Capital has 1 portfolio exit. Their latest portfolio exit was FanDuel on May 23, 2018.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
|---|---|---|---|---|---|
5/23/2018 | Corporate Majority - P2P | 5 |
Date | 5/23/2018 |
|---|---|
Exit | Corporate Majority - P2P |
Companies | |
Valuation | |
Acquirer | |
Sources | 5 |
Next Play Capital Fund History
22 Fund Histories
Next Play Capital has 22 funds, including Next Play Capital Fund III.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
|---|---|---|---|---|---|
10/14/2022 | Next Play Capital Fund III | $200M | 1 | ||
10/28/2020 | NPC FIGS | $3.78M | 1 | ||
6/12/2020 | NPC Tonal | $0.65M | 1 | ||
3/10/2020 | NPC Guild | ||||
12/5/2019 | NPC Carbon |
Closing Date | 10/14/2022 | 10/28/2020 | 6/12/2020 | 3/10/2020 | 12/5/2019 |
|---|---|---|---|---|---|
Fund | Next Play Capital Fund III | NPC FIGS | NPC Tonal | NPC Guild | NPC Carbon |
Fund Type | |||||
Status | |||||
Amount | $200M | $3.78M | $0.65M | ||
Sources | 1 | 1 | 1 |
Next Play Capital Team
1 Team Member
Next Play Capital has 1 team member, including current General Partner, Eric Valle.
Name | Work History | Title | Status |
|---|---|---|---|
Eric Valle | General Partner | Current |
Name | Eric Valle |
|---|---|
Work History | |
Title | General Partner |
Status | Current |
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