Joe Montana Transitions from 49ers Legend to Successful Venture Capital Investor
Joe Montana, the legendary quarterback and four-time Super Bowl champion, has successfully transitioned from a sports icon to a venture capital investor. Although he initially didn’t plan to enter the world of investing after his NFL career, encouragement from former San Francisco 49ers teammates led him to take the plunge.
From the NFL to Venture Capital
In a recent interview with CNBC, Montana recounted how teammates Harris Barton and Ronnie Lott inspired him to explore investment opportunities. They proposed creating a “fund of funds,” leveraging connections with prominent figures in Silicon Valley, such as Sequoia, Kleiner, and Excel.
Initial Success and Lessons Learned
Upon venturing into investing, Montana and his partners managed to raise $15 million. This fund enabled them to invest in various sectors, including leveraged buyouts, hedge funds, and real estate. However, after relocating two hours from San Francisco to Napa, Montana took a step back from these investments.
His journey took another turn when he connected with angel investor Ron Conway, whose children attended the same school as his. Conway, a co-founder of SV Angel, played a pivotal role in encouraging Montana to establish his own fund, Liquid 2, in 2015.
Liquid 2 and Investment Philosophy
Montana believes that investing is less about the product and more about the people behind it. “What you’re betting on are the founders,” he shared. This insight comes from his experiences in Silicon Valley and highlights the importance of the team driving a startup.
A Growing Portfolio
Liquid 2 has flourished under Montana’s guidance, investing in over 800 companies, including notable names like GitLab, Rappi, Anduril, and Pipe. Conway noted that Liquid 2 is now as prominent as SV Angel, owing to Montana’s affable personality and ability to foster enduring relationships in the industry.
Applying Athletic Insights to Investing
While Montana is keen to establish his identity beyond his athletic fame, he draws on his experience as an NFL player to inform his investments. He credits NFL coaching legend Bill Walsh with teaching him the importance of assembling a strong team. Montana has found parallels between successful founders and elite athletes, attributing success to an inner drive and ambition.
Through his unique perspective and experiences, Joe Montana exemplifies how dedication and teamwork from sports can translate into effective venture capital investment.
