Former NBA player Metta World Peace has launched Tru Skye Ventures, a venture capital fund to support early-stage startups.
World Peace, previously known as Ron Artest, has teamed up with former Boost Mobile CEO Stephen Stokols to launch the venture firm.
The fund will invest in sports, technology, digital media, health, and wellness innovations. Tru Skye Ventures hopes to raise $100 million for the fund by the end of the first quarter 2025.
Tru Skye Venture, an Investment in Health and Wellness
Tru Skye Venture has already made its first formal investment, an undisclosed sum, in the performance beverage company Barcode. The company was founded by former New York Knicks and Los Angeles Lakers director of performance Mubarak “Bar” Malik.
The Barcode announcement came last month, almost to the day of the 20th anniversary of the “Malice at the Palace” incident, in which World Peace played a leading role in a fight involving his Indiana Pacers teammates and the Detroit Pistons, the defending champions at the time.
World Peace, which was at the center of what is widely seen as the most infamous fight in NBA history, is nowadays focused on destigmatizing mental health while investing in wellness.
“It’s a full circle story,” he said in a video interview. “Health and wellness are always going to win.” In addition, Tru Skye has already begun deploying existing capital into an unfinalized investment deal with an unnamed sports tech company.
World Peace estimates that the fund will invest in at least 20 companies. The onetime NBA Defensive Player of the Year has teamed up with his longtime business partner, Stokols, to formalize their new fund.
Tru Skype Venture will deploy capital into select startups already in the personal portfolios of more than 40 companies. The former NBA All-Star wants the fund to inject capital and provide pointed expertise in product development, distribution, brand partnerships, and growth marketing.
Impact Beyond and After Basketball
World Peace is a native of Queensbridge, N.Y., who played 17 seasons in the NBA. After his second stint with the Lakers, he retired from the NBA in 2017. Determined to understand the inner workings of private equity and finance, he pursued his master’s degree and enrolled in digital analytics classes at UCLA after his playing career.
“I told people I didn’t want my face to add value,” he said. “I wanted that be to my word and my (mind). That took a long time. There’s just so much that goes into that, especially how people perceive you. You’ll go into a meeting (before), and they’re just waiting to talk about basketball.”
World Peace started co-investing with Stokols around this time. Recently, the two recognized the opportunity to gain more significant ownership stakes in companies by launching a fund that would allow them to potentially lead funding rounds instead of merely participating.
“We’re taking it from angel investing and individual investing like we’ve done historically into more institutional,” Stokols said. “We can write bigger checks and follow along with these companies and add more formal value.”
Stokols and World Peace have also teamed up with former SEAL officer and early-stage investor Tarey Gettys to lead operations. Together, they are looking to take advantage of the vast network of corporate partners and influencers they have built over their careers. Tru Skye‘s list of limited partners includes former pro athletes, entertainers, former politicians, and family offices.
