Orlando Magic Guard Gary Harris shoots against the in the second half of an NBA basketball game … [+]
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Gary Harris made his NBA debut for the Denver Nuggets in November 2014 after playing two seasons with Michigan State. He was a 20 year old first round draft pick with big ambitions on the pitch, despite not thinking much about his career after playing, which is natural for anyone so young and with so much talent.
Although Harris has emerged as a seasoned starter in the league and it looks like he could play another decade if he stays healthy, the 26-year-old Orlando Magic Shooting Guard has started thinking about his life beyond basketball. Harris fell particularly in love with the business world.
Harris owns several real estate and land in his home state of Indiana and elsewhere. This year he also participated in a $ 6 million Series A funding round for Balllogy Inc., an app that enables basketball players to track their shooting progress and offers a training program.
And Harris is getting venture capital after recently investing in the Swiftarc Ventures Labs Fund, an early-stage vehicle sponsored by Swiftarc Ventures, a VC firm founded two years ago. Other investors in the fund include Kansas City Chiefs tight end Travis Kelce, Dallas Mavericks Guard Tim Hardaway Jr., and Detroit Pistons Center Mason Plumlee.
Harris heard about Swiftarc through Plumlee, a friend, and his teammate at the Nuggets from 2016 to 2020. Harris then developed a strong relationship with Sid Jawahar, the co-founder and managing partner of Swiftarc.
“It was fun getting into the venture capital side in particular,” said Harris. “I’m just trying to be a sponge and learn. The closeness to Sid has helped me grow so much as a person, especially when I wanted more than just basketball. “
Growing up, Harris didn’t care too much about a career in business. His mother was a real estate agent, so he was interested in buying and selling houses, but his focus was almost entirely on getting better as a basketball player. Harris’ hard work led him to become a top 20 high school recruit and sign up to Michigan State, where he was the Freshman of the Year in the Big Ten in his first season and an All-Big in his sophomore year -Ten selection of the first team was.
After that season, he was selected by the Chicago Bulls with the 19th pick in the 2014 draft, which traded him to the Nuggets that night. Harris didn’t play much with the Denver Nuggets in season one, but he was a starter the next season, a role he held until the Nuggets traded him to Orlando Magic in March. Harris also took on a starting role in Orlando and averaged 9.9 points with both teams last season.
Despite his continued success and nearly $ 60 million in salary throughout his NBA career, Harris continues to expand his ambitions and goals, particularly after the birth of his first child, a boy, in early 2020.
“As an athlete, you know the ball won’t bounce forever,” said Harris. “At some point I won’t be able to play basketball anymore.”
As Harris got older, he saw more conversation among gamers on business issues, be it real estate or technology or cryptocurrency or the stock market or venture capital or even starting your own business.
“I have a lot of friends in the League who have been (business ventures),” Harris said. “I have younger friends in the league who are starting to ask questions. I think it’s a new time. Since we can use our platforms, we are in a unique position in the NBA. “
He added: “There are so many opportunities that we can be part of in order to grow our brands not just as basketball players but also as a person, as a businessman, as an entrepreneur. Everyone says, ‘More than an athlete.’ It is really true. “
Jawahar, the co-founder of Swiftarc Ventures, is impressed with Harris’ curiosity and interest in the venture capital industry. The Swiftarc Labs fund has invested in three companies to date: R-Zero, a biosecurity company; Artiphon, a consumer electronics company; and Shine Bathroom Technologies Inc., a personal hygiene startup.
The fund has raised approximately half of its $ 50 million fundraising goal and plans to make a total of 12-15 investments in consumer technology and health and wellness companies. If the fund goes well, Swiftarc expects to launch a successor with a target of $ 250 million.
Jawahar noted that Harris is not just a passive observer who has invested some money and forgot about it. Instead, he wonders why Swiftarc chose to invest in certain companies, what their long-term growth potential is, and how to turn a promising young company into one that could make an impact in its industry.
“What makes Gary special is that he takes the time (to study),” said Jawahar. “He’s asking the right questions. I enjoyed working with him because it is invigorating for me to see that (passion and curiosity) of someone outside of the investment world. “
He added, “For a lot of people (venture capital) is something they have in their portfolio and they are wealthy enough to or may not consider it. But regardless of how important it is of any asset component, I feel like Gary goes out of his way to read all of the quarterly updates, ask questions about them, and be as committed as anyone could ever want. “
For his part, Harris is set to make $ 20.5 million in the final year of a four-year deal next season and likely to play for several more seasons. But he now knows that there is more than just basketball. He’s still learning about investing and doing business, but he’s taking the right steps to prepare for a bright future.
“I’m still a long way from where I want to be, but I like the way I move forward,” said Harris. “I’m grateful that Sid brought me in, took me under his wing, and believed in me. I look forward to growing and making a positive impact on the world. “
source https://dailyhealthynews.ca/how-orlando-magic-guard-gary-harris-grew-to-enjoy-venture-capital-technology-real-estate-and-other-business-topics/
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