Stephen Curry’s Penny Jar Capital Files for Fund II Amid Athlete VC Boom
Penny Jar Capital, the early-stage venture firm co-founded by Bryant Barr and Richard Scudellari with NBA superstar Stephen Curry as a special advisor, has taken steps to raise its second investment fund. According to an October SEC filing, the firm submitted paperwork for Penny Jar Capital Fund II without disclosing a target amount.
Key Developments:
- Dual Filings: The firm also filed for a separate entity called Fund II Collective in October, also without a specified target.
- Previous Fund: Penny Jar’s debut fund (Fund I) was filed in June 2021 and reportedly closed that September, though the SEC filing remains unupdated. PitchBook data suggests the firm has made approximately 18 investments, including in cybersecurity startup Upwind and employee training platform Praxis Labs.
The Athlete-VC Trend Gains Momentum
Penny Jar’s latest move aligns with a growing trend of professional athletes entering venture capital:
- Kevin Durant: Launched 35V
- Serena Williams: Heads Serena Ventures
- Giannis Antetokounmpo: Recently announced his own VC firm
Behind Penny Jar’s Leadership
- Bryant Barr: Former business manager for Curry and president of SC360 (Curry’s brand management entity)
- Richard Scudellari: Ex-investment partner at SC360
- Stephen Curry: Actively sources deals and supports portfolio companies, per the firm’s website
Penny Jar Capital did not respond to requests for comment regarding the new filings.
Why This Matters
The filing signals continued confidence in athlete-backed venture capital, particularly in early-stage tech investments. With Curry’s influence and the founders’ experience in brand management, Penny Jar Capital represents a unique blend of sports, entertainment, and investment expertise.
Looking Ahead: Industry watchers will monitor whether Fund II follows the pattern of its predecessor in targeting undisclosed amounts while focusing on emerging tech startups.
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