Well it looks like more and more NBA players are getting smart about money.  Learning from the lessons of Antoine Walker, Allen Iverson, Latrell Spreewell (To name a few). You know, guys that had money and fame but now have to shop at Footlocker :). The new crop of NBA stars  are doing things a little differently.  They have learned that you need to  invest your money while you are still hot!

Anthony seems to be doing just that, following in the footsteps of other NBA tech investors (Steve Nash, Amare Stoudamire) he has teamed up with Stuart Goldfarb (former CEO of Bertelsmann Direct North America and ex-NBC exec.)to form a Venture capital firm. With this move, the baller from New York hopes to capitalize on the tech boom and make a little extra cash, in addition to that $122M check the New York Knicks just gave him!

As of right now ths newly formed VC firm has already invested in one startup, a media company called Hullabalu.  Hullabalu is a media company that focuses on content for kids (apps, cartoons etc)

Carmelos new venture Capital Firm is called M7 Tech partners. The “M7” stands for Melo 7.   Melo meaning the nickname of Carmelo Anthony, and 7 his jersey number with the New York Knicks.  Hopefully this new startup will have better success than the Knicks in the NBA playoffs!! We just kid Melo…………….Good Luck!