Regions

Former NBA star David Robinson starts venture capital firm to impact the community- report

January 22
9:30 PM 2014

David Robinson, the basketball player who was inducted into the basketball Hall of Fame in 2009, has gone a long way from bagging two NBA championships when he was with the San Antonio Spurs, Forbes Contributor Dan Schawbel writes. He has since become a philanthropist, venture capitalist and advisor.

Robinson co-founded the investment firm Admiral Capital Group together with Daniel Bassichis. Information from the company's website said that their goal is to maximize returns and create positive social impact, a concept underscored by Robinson in his interview with Schawbel.

Robinson said, "The primary reason to start Admiral Capital Group was to create a larger platform to impact the community. It was a way to sustain the work I was doing in San Antonio, but also allowed me to work with other communities. It also presented a new and exciting challenge in a new field. I was interested in learning more about the world of finance, how it worked, how it impacted different people. I also knew that to make a bigger impact, I would need to have a strong, profitable and sustainable business with the right partners."

His co-founder, Daniel Bassichis, served as a member of the Investment Banking Division of Goldman Sachs before he formed Admiral Capital Group with Robinson. Information from the firm's website revealed that Bassichis was able to complete over $15 billion of advisory and financing deals during his stint at Goldman Sachs.

The NBA star who also became a league MVP and creator of the David Robinson Plaque which is still given today to players for their work in the community also founded The Carver Academy or TCA in San Antonio. He has contributed over $10 million to TCA and the San Antonio community to establish an academic environment that is both nurturing and inspiring, the report said.

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