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I’ve read somewhere that when really successful people start getting into things that aren’t within their domain of expertise, it’s akin to having finished the “main quest,” spending their time relaxing and completing “side quests” instead.
Think of how someone like Bill Gates decided to just spend the rest of his life on philanthropic endeavors, or famous actors and actresses opening their own cafes.
For some Asian sports stars, their side quest comes in the form of working in the VC space, setting up their own investment firms and backing startups. Today’s story takes a closer look at these efforts and what drives these sporting icons to throw their hat in the ring.
Today we look at:
- Asian sports stars joining the world of VCs and startups
- Fragrance subscription firm I’vre shutting down
- Other newsy highlights such as Motherswork’s new offline store in Vietnam and Line Man Wongnai’s potential IPO in 2025
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A different ball game
Image credit: Timmy Loen
Some big names from the sporting world have gotten into the VC space, including the likes of Joseph Schooling, former competitive swimmer and Singapore’s first Olympic gold medalist, and Keisuke Honda, a former member of Japan’s national football team.
Tech investments are a different ball game compared to sports, so what’s driving these stars to join the fray?
- Star power: Being famous in their own right gives many of these athletes an edge when investing in startups, as they can capitalize on that fame to secure competitive deals, according to VCs and analysts Tech in Asia spoke with.
- Big fishes, smaller pond: Unlike the US, Asia is a much less saturated space for celebrities in the VC space. Sports stars in the region can thus command a lot more attention when they’re trying to get in on the latest deals.
- Staying focused: Now that they’ve retired, many sports stars are simply looking for something to stay active in, even if it’s not physical. One former athlete told Tech in Asia that while she could no longer compete in sports, she can remain sharp through investing.
Read more: Why the VC arena is the new playground for Asian sports stars
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