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Basketball star Baron Davis talks investment in CBD-focused House of Wise

August 15, 2021, 12:00 PM UTC

Baron Davis is a two-time NBA All-Star, serial entrepreneur, investor, and digital content creator. As a professional athlete, Davis played for basketball teams including the Golden State Warriors, Los Angeles Clippers, and New York Knicks over the course of 13 seasons. Since 2017, he has been a studio analyst for TNT’s NBA coverage in addition to his work in film and television through his production company, No Label.

Davis is also the founder of several companies across industries, including Sports Lifestyle in Culture (SLiC), a content creation platform for athletes, and UWish, a multimedia company that elevates and celebrates a diverse set of voices and experiences.

As an investor with Baron Davis Enterprises, Davis has increasingly focused on companies that have a positive impact on society and entrepreneurs from underrepresented communities. In 2021, he announced his investment in House of Wise, a line of CBD supplements that support women’s health and wellness.

Baron Davis
Steve Granitz—WireImage/Getty Images
  • Startup: House of Wise
  • Location: Miami
  • Year founded: 2020
  • Valuation: Not disclosed
  • Investment level: Seed
  • Number of employees: Six
  • Other major investors: Sugar Capital, Jack McCue (cofounder of Fabletics), Kat Cole (former president of Focus Brands)

Why he invested, in his own words

I’m a serial entrepreneur and love the risk and reward with young companies. I’ve founded a number of startups, and I understand the passion, drive, and determination it takes. I enjoy mentoring startup teams and sharing what I’ve learned from my wins and losses along the way. We learn from each other. So I was intrigued by [House of Wise founder] Amanda Goetz’s personal story.

I love a comeback story. We know that someone who brings a solution to a personal challenge and simultaneously finds a way to solve a problem for the masses is someone we can get behind. My team and I were just enamored with Amanda. Her small town, rural upbringing, postdivorce plight as a stressed-out single mother of three, and expertise in physical, digital, and partnership marketing, which gives her great direct-to-consumer chops—her story is just inspiring. She took control of her sleep, stress, and sex, then morphed it into a women-focused and empowering brand in the CBD space, which is an ongoing interest of mine.

House of Wise has CBD products that work and taste great, and it’s building a true community of female affiliates by reviving and modernizing the Tupperware model. I first heard about House of Wise in a Clubhouse room that I was hosting with Kat Cole, whom I admire very much. Kat used House of Wise as an example of the type of company she invests in and why. She talked about how a great product and fulfillment experience mixed with the percentage of customers who reordered is a great way to diligence an early stage opportunity, regardless of volume.

What I hope for all of the teams I invest in is tremendous success, products that are well received and in high demand, fun along the way, and a big return. Amanda is real, raw, smart, and driven. We know she’s going to take this company across the finish line.

This is an installment of Why I Invested, a series featuring famous investors from all different backgrounds and industries, revealing what inspired them to invest their own money in a new business.