Knicks Star Carmelo Anthony Co-Founds Venture Capital Firm

Now that Carmelo has signed back with the Knicks and has his home for the upcoming season, he has set his sights on dominating in a whole new game with way different players.

ESPN reports that Anthony announced the launch of M7 (Melo 7)Tech Partners, a venture capital firm which he founded with business partner Stuart Goldfarb, who heads the world’s largest direct marketing company for music, video and books.

Anthony’s intrigue with wearable and connected devices, such as the sophisticated sensors he and his teammates wear to track their performance, piqued when he realized how inaccessible these effective devices were to the general public. Looking to help catapult those and other similar products into mainstream markets, he partnered with longtime friend and successful business executive, Goldfarb, to create a firm that will serve as an early-seed fund for digital media and consumer technology start ups.

Neither founder has decided just yet how much funding they will provide for selected projects, but they have already partnered with Hullabalu, an interactive children’s story company which has already raised $1.8 million in funding over the course of a year.

It’s always refreshing to see athletes plan for their future and diversify their dollars in admirable business endeavors.