Ex-New Orleans Saints receiver Marques Colston, alongside his business associate Nick Edwards, is on a mission to gather $100 million for a venture fund dedicated to athletes, Champion Venture Partners (CVP), aimed at facilitating the transition for athletes into the entrepreneurial world.
This fund, which also functions as an investment management entity, is set to broaden the horizons for not just ex-athletes but also retail investors and other marginalized groups who often miss out on investment opportunities and support for their entrepreneurial ventures.
Colston expressed in an interview the fund’s objective to democratize wealth building, especially at the confluence of sports and commerce. He emphasizes creating channels for athletes to engage economically in the industries they’ve helped flourish. CVP, poised for launch, is distinctively structured, incubated as an internal portfolio entity of the nonprofit VC, BisonX. With Edwards, who has a background in mixed martial arts, they plan to utilize BisonX’s infrastructure in North Dakota to identify and nurture mature sports-centric businesses. This approach, Colston notes, allows investors to see returns sooner than the traditional venture capital timeline, likening it more to an in-house fund of a private equity firm.
Having concluded his 10-season career with the Saints in 2016, Colston acknowledges the current tough environment for venture capital fundraising but believes the unique, lower-risk approach of CVP will ensure quicker liquidity and opportunities, especially given its unconventional investment strategy.
With a three-year timeline to achieve their funding goal while simultaneously deploying capital, Colston envisions this initiative as a means for venture capitalists to diversify their investments, targeting areas within sports technology, data, media, and entertainment.
This initiative marks another step in Colston’s advocacy for retired athletes’ welfare. Through Marques Colston Enterprises, he has advised and invested in startups within the sports technology and wellness sectors since ending his NFL career.
Colston highlighted the educational disparity between athletes and the venture capital sector, advocating for an environment where athletes can learn from one another and collaboratively invest in promising ventures, thus moving beyond tokenistic roles and addressing the accessibility issues in venture capital.
