Brooklyn Nets star Kevin Durant has launched Infinite Acquisition Corp, which focuses on buying companies across the sports, cryptocurrency, e-commerce, health, and food sectors.
The special purpose acquisition company (SPAC) has filed for a US$200 million initial public offering (IPO) and is offering 20 million units at US$10 apiece.
Infinite will redeem 100 percent of the shares for cash if it does not close a merger within 18 months after the IPO ends.
Durant will serve as co-CEO of Infinite alongside entrepreneur Rich Kleiman, who is his business partner in their Thirty Five Ventures investment vehicle.
Infinite is an addition to the NBA star's growing list of sports and technology investments.
Thirty Five Ventures invested in esports organization Andbox, is part of the US$3.5 million seed funding round for media platform Just Women’s Sports (JSW) and is part of a group that invested US$100 million in ticketing technology company SeatGeek, which merged with RedBall Acquisition Corp.
Durant also owns a five percent stake in Major League Soccer’s Philadelphia Union valued at around US$12 million.
