Kobe Bryant, the 18-time NBA All-Star who had a 20-year career with the Los Angeles Lakers, died in a helicopter crash Sunday. His 13-year-old daughter Gianna and seven others also died in the crash.
Following his retirement from the NBA, Bryant chose venture capital as his second act. He and business partner Jeff Stibel formed venture firm Bryant Stibel in 2013 and raised $100 million for their debut venture capital fund three years later. Their investments included sports media website The Players Tribune (which was recently acquired by Minute Media), video game designer Scopely, and legal-services company LegalZoom.
Bryant was known for his obsessive pursuit of precision and excellence, which he dubbed “the Mamba Mentality.” In his bio section on the Bryant Stibel website, Bryant wrote:
“To lead others, you have to constantly learn. I wouldn’t say my leadership style changed over the years. I like challenging people and making them uncomfortable. That’s what leads to introspection and that’s what leads to improvement. You could say I dare people to be their best selves.
“That approach has never wavered – from basketball to business. What I did adjust, though, was how I varied my approach from player to player, business to business. I still challenge everyone and make them uncomfortable; I just do it in a way that is tailored to them. To learn what would work and for who, I do homework and watch how they behave. I learn their histories and listen to what their goals are. I learn what makes them feel secure and where their greatest doubts lay. Once I understand them, I can help bring the best out of them by touching the right nerve at the right time.”
Following the news of Bryant’s passing, venture capitalists and tech executives shared tributes to honor the legendary player whose VC life was only beginning.
“‘My brain … it cannot process failure. It will not process failure. Because if I sit there and have to face myself and tell myself, ‘You’re a failure’ … I think that’s almost worse than death.’ — Kobe Bryant, basketball legend, RIP” — Marc Andreessen, co-founder of Andreessen Horowitz
“Many of us were teenagers when Tupac, Selena, Biggie, & Cobain died within a 3-year period. We are resilient. It’s hard to think very clearly (I can’t get passed Gigi tbh), so these are just thoughts and hymns to help me and others get through another hour. Hope they make sense.” — Arlan Hamilton, founder of Backstage Capital
“Oh my god 💔💔💔 … I can’t believe it… 🙏🏽 this is so devastating.” — Jessica Alba, co-founder of The Honest Company
“Last conversation I had with @kobebryant was about how excited he was to be doing tech investing and about the legacy he wanted to build off the court. He still believed he had work to do. Wish I’d had more time to work with him. What a tragedy. Hugging my daughter extra today.” — Alexis Ohanian, co-founder of Initialized Capital
“Kobe. Fuck. There will be a lot of takes. But, not sure I will ever know anyone else with his work ethic. Legend. #RIPMamba” — Chris Sacca, founder of Lowercase Capital
“Kobe just loved being a dad. And when it comes to his legacy, I really hope we’re able to take the time to remember that as an essential part of it.” — Derek Jeter, founder of The Players’ Tribune
REMEMBERING LEILA JANAH: It’s been a tough week. The startup community is also mourning the loss of Samasource founder and CEO Leila Janah, a serial entrepreneur with a career that spanned both the for-profit and nonprofit worlds. Her company aims to be a trusted platform for ethical training data. She died at the age of 37 of complications from Epithelioid Sarcoma, a form of cancer.
Fortune named Janah to the annual “40 under 40” list in 2017 for her mission of setting up workers in Kenya, Uganda, India, and other underprivileged parts of the world as remote freelancers for the tech sector and boosting their average wages. You can watch Janah’s full interview at Fortune’s Global Forum in 2016 in which she explains her company’s long-term solution to solving global poverty.
Polina Marinova
Twitter: @polina_marinova
Email: polina.marinova@fortune.com
VENTURE DEALS
- Catalant Technologies, a Boston-based provider of technology platform and programs for skills matching and resource allocation, raised $35 million in Series E funding. Goldfinch Partners led the round, and was joined by investors including Anheuser-Busch InBev's ZX Ventures, Salesforce Ventures, SJF Ventures, General Catalyst, Highland Capital, GE Ventures, Bob Doris of Accanto Partners, former Bain Capital Managing Director Mark Nunnelly, and Mark Cuban.
- Bizongo, an India-based online B2B marketplace for packaging, raised $30 million in Series C funding. Schroder Adveq led the round, and was joined by investors including B Capital, Accel, Chiratae Ventures and IFC.
- Iguazio, an Israel-based data science platform for real time machine learning applications, raised $24 million in funding. INCapital Ventures led the round, and was joined by investors including Samsung SDS, Kensington Capital Partners, Plaza Ventures and Silverton Capital Ventures.
- MURAL, a San Francisco-based digital workspace for visual collaboration in the enterprise, raised $23 million in Series A funding. Radian Capital led the round, and was joined by investors including Gradient Ventures, Google’s AI-focused venture group, and Endeavor Catalyst.
- Neocova, a St. Louis, Mo.-based banking technology platform built for community financial institutions, raised $9.5 million in Series A funding. Investors include Bank of St. Elizabeth, Coastal Community Bank, First Financial Bank, Kearny Bank, Provident Bancorp, Inc. and Sunwest Bank.
- Yogi, a New York-based customer feedback analytics platform, raised $2.3 million in seed funding. RTP Ventures led the round, and was joined by investors including Felton Group and Entrepreneurs Roundtable Accelerator.
PRIVATE EQUITY DEALS
- The PromptCare Companies acquired Premier Specialty Infusion, a New Providence, N.J.-based provider of complex respiratory and specialty home infusion services. Financial terms weren't disclosed.
OTHER DEALS
- Minute Media acquired FanSided, a Chicago-based network of fandom-focused sports and lifestyle site, from Meredith Corporation. Financial terms weren't disclosed.
IPOs
- PPD Inc., a Wilmington, N.C.-based drug development and laboratory management service for biopharmaceuticals, plans to raise $1.5 billion in an IPO of 60 million shares priced between $24 to $27 apiece. It previously filed confidentially in November. The firm posted revenue of $3.8 billion and income of $96.3 million in 2018. Hellman & Friedman Capital Partners (56.7% pre-offering), Carlyle (23.8%), the Abu Dhabi Investment Authority (9.2%), and the Government of Singapore (9.2%) back the firm. It plans to list on the NYSE as “PPD.” “Read more.”
- Casper Sleep, a New York-based mattress maker, says it plans to raise $150 million in an IPO of 8.35 million shares priced between $17 to $19 apiece. The firm posted net revenue of $357.9 million and loss of $93.2 million in 2018. NEA (15.9% pre-offering), Red Cart Ventures (9%), Timothy Sherwin (6.4%), Norwest Ventures (6.2%), and IVP (6.2%) back the firm. It plans to list on the NYSE as “CSPR.” “Read more.”
- Schrodinger Inc., a New York-based predictive molecule-discovery software platform maker for biopharmaceuticals, plans to raise $150 million in an IPO of 10 million shares priced at a range between $14 to $16. The firm posted revenue of $66.7 million and loss of $28.4 million in 2018. The Bill & Melinda Gates Foundation and David E. Shaw back the firm. It plans to list on the Nasdaq as “SDGR.” “Read more.”
- OneWater Marine, a Buford, Ga.-based recreational boat retailer, revived its postponed IPO with a filing to raise $59.8 million in an IPO of 4.6 million shares priced between $12 to $14 apiece. The firm posted revenue of $603 million in the year ending Sept. 2018 and income of $29.3 million. LMI Holdings, and Goldman Sachs back the firm. It previously planned to list on the Nasdaq under “ONEW.” Read more.
EXITS
- K12 Inc. (NYSE: LRN) agreed to acquire Galvanize Inc, a Denver-based provider of technology workforce education, workspace, and networking services, for $165 million in an all-cash transaction. Galvanize had raised approximately $167 million in venture funding from investors including Catalyst Investors, Aspen Grove Capital, The Colorado Impact Fund, ABS Capital Partners, University Ventures, and University Venture Fund.
- TELEO Capital acquired Industrial Defender, a Foxborough, Mass.-based provides cybersecurity and compliance software solutions for critical infrastructure providers, from Capgemini America, Inc. Financial terms weren't disclosed.
- Palladium Equity Partners sold the parent company of DolEx Dollar Express, Inc, an Arlington, Texas-based provider of electronic money transfer solutions, to a group of investors including management. Financial terms weren't disclosed.
FIRMS + FUNDS
- GLS Capital, a Chicago-based private investment firm, raised more than $345 million for its fund GLS Capital Partners Fund I, LP.
PEOPLE
- Aimée Leifer and Dan Murray joined Calibrate Ventures as venture partners.