Carmelo Announces New Venture Capital Firm

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Carmelo Anthony, who recently signed a $124 million contract with the New York Knicks, has announced a new venture capital firm called M7 Tech Partners. Stuart Goldfarb, the former CEO of Bertelsmann will partner up with Melo in the firm, which has already made an initial investment in an interactive children story company called Hullabalu.

Goldfarb was previously the head man at a direct marketing company for movies, music, and books as well as NBC's executive vice president for worldwide business development.

Not exactly the type of business we'd expect Melo to be getting into, but it's certainly refreshing to see an athlete taking steps to invest some money rather than blowing it on toys. Carmelo had this to say regarding his newest venture;

”For as long as I can remember, I’ve been interested in technology. We are actively looking for ventures with strong leadership that resonate with consumers.”

The office for M7, which stands for 'Melo 7,' will be located in New York City and will focus on “early stage digital media, consumer Internet, and technology ventures,” according to an official statement. 


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