Basketball Hall of Famer DavidtheAdmiral is helping to raise $50 million for a new investment fund designed to help develop economically depressed neighborhoods in Texas.
The former San Antonio Spurs superstar is raising funds for Blueprint Local, an opportunity zone fund that was created out of the federal 2017 Tax Cuts and Jobs Act.
The firm says it has invested more than $300 million in over 50 deals with total transaction value of over $1.5 billion.Stephanie Keith | Bloomberg | Getty Images, is helping to raise $50 million for a new investment fund designed to help develop economically depressed neighborhoods in Texas. Robinson said he was drawn to the fund because it benefits the Alamo City, where he spent his entire professional basketball career.
His own fund, Admiral Capital, focuses on private equity and real estate deals that can "make a positive social impact," according to its website. The firm says it has invested more than $300 million in over 50 deals with total transaction value of over $1.5 billion.
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