Green Bay Packers quarterback Aaron Rodgers just launched a venture capital fund to invest in fast-growing consumer startups, and to help athletes have a stake in the companies they are hired to endorse.
Rx3 Ventures, led by Rodgers and fellow co-founders Nate Raabe and Byron Roth of ROTH Capital Partners, was officially unveiled Wednesday. Rodgers serves as a general partner of the $50 million fund.
The fund counts a number of professional athletes, musicians, actors and entrepreneurs as its investors, who will be able to own equity in brands they endorse. The idea is to create a more authentic influencer marketing experience.
“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."
So far, Rx3 Ventures has publicly announced six investments, including men's wellness brand Hims and new football helmet company VICIS.
The fund, based in Newport Beach, Calif., plans to partner with consumer private equity and growth capital funds on deals.
Rodgers' interest in venture capital comes as the town of Green Bay prepares to celebrate the launch of TitleTown Tech, an ambitious, multi-million dollar venture from Microsoft and the Packers that includes an incubator, accelerator and a venture capital fund to boost tech activity in the region.
