Kevin Durant’s Venture Capital Firm to Join Canadian Cannabis Investment Company
Kevin Durant has already reached the highest of heights on the court, as an NBA MVP and two-time champion, and off of it, as an early investor in tech companies like Postmates, Lime and Coinbase. Now, the injured Brooklyn Nets is looking to climb even higher in the cannabis industry through the latest endeavor by Thirty Five Ventures, the venture capital firm he co-founded with Rich Kleiman.
According to Forbes, KD’s company is joining the strategic advisory board of Canopy Rivers, an investment company affiliated with the Canada-based Canopy Growth Corporation. With Thirty Five Ventures’ support, Canopy Rivers will look to co-invest in marijuana-related businesses, and draw on KD and Rich’s experience and connections in sports, entertainment, marketing and brand development to expand its portfolio.
For KD and Rich, this opportunity was particularly appealing given Canopy Rivers’ emphasis on and understanding of data pertaining to consumer behavior in the space.
“We’ve recognized that Canopy Rivers has taken a data-backed approach to map out forward-looking opportunities in the industry,” Rich said.
The partnership with Canopy Rivers marks the second foray into the cannabis industry for Thirty Five Ventures. Last year, Kevin joined rapper and marijuana enthusiast Snoop Dogg to back Dutchie, an online platform for ordering and delivering cannabis based in Bend, Oregon.
Josh Martin is the Editorial Director of CloseUp360. He previously covered the NBA for Bleacher Report and USA Today Sports Media Group, and has written for Yahoo! Sports and Complex. He is also the co-host of the Hollywood Hoops podcast. Follow him on Twitter and Instagram.