Green Bay Packers quarterback Aaron Rodgers co-founds $50M venture capital fund
Dec 30, 2018; Green Bay, WI, USA; Green Bay Packers quarterback Aaron Rodgers (12) during warmups prior to the game against the Detroit Lions at Lambeau Field. Mandatory Credit: Jeff Hanisch-USA TODAY Sports - 11918258 (Reuters)
Green Bay Packers quarterback Aaron Rodgers may have a Super Bowl win and two NFL MVP awards but now he can call himself a co-founder of a venture capital fund.
Rodgers, 35, co-founded Rx3 Ventures with general partners Nate Raabe and Byron Roth, both of ROTH Capital Partners. Rx3 Ventures is described as a “$50 million growth fund focused on providing value-add capital to companies across the consumer landscape.”
The three founders all invested in the fund.
“As professional athletes, we’re constantly approached with investment opportunities,” Rodgers said in a statement. “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 needs to be authentic. With Rx3, I saw the opportunity to create an investment platform that brings together a group of like-minded influential investors and their respective networks with the backing of institutional resources.”
The goal of the fund is to support influencers in the sports and entertainment world and become stakeholders “in a brand’s long-term success.” The fund noted that the influencer market was growing.
The statement said a number of professional athletes, singers and musicians are investors in RX3 Ventures. Those include former Heisman Trophy winner Desmond Howard, skateboarder Ryan Sheckler and retired professional racing driver Danica Patrick, Rodgers’ girlfriend, Fortune reported.
The fund has invested in a few startups including VICIS, which designed a football helmet geared for adults, CorePower Yoga and Hydrow.
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“Rx3 stands out from other consumer funds due to its unique combination of institutional expertise and a powerful influencer network," Alex Bhathal, the co-owner of the Sacramento Kings, said in a statement. "Their access to top-tier deal flow and ability to add value beyond capital positions the fund for success. I’m thrilled to be a part of the Rx3 team as it pioneers a new approach to consumer investing.”