Lance Armstrong is known for having been a professional road-racing cyclist notorious for having participated in the grandest doping disrepute in as far as cycling is concerned. However, half a dozen years since his ban from cycling, Lance Armstrong has managed to revolutionize himself and become a positive societal influencer as manifested in his strife to tell the world about his life. In 2019, he has proved to venture into something new- Next Ventures
Lance Armstrong’s investment in Uber and how it influenced his 2019 project
In 2019, Lance ventured in to the Uber company y plunging in an investment of up to $100000 by means of lowercase financing. This was a wise move because it rescued his family from the brink of financial collapse. The threat to his finances is owed to the 2012 probe into his prowess in cycling that revealed the fact that Lance would use performance enhancing substances which aided in his exceptional performance in the tour de France. This scandal saw Lance’s titles for the previous races revoked as well as the loss of lucrative endorsement offers.
What comes with the new investment?
According to Lance Armstrong, the investment into the Uber Company has seen him reap a lot of benefits, giving him insight to what benefits venture capital has the potential to confer, an element that has seen him set up his own venture fund under the title of Next Ventures.
Next Ventures is a venture fund categorically set up to support newbies in sports, wellness, and nutrition and fitness arena. The first investment made by this venture fund is the portfolio-based company called Carlsbad, Calif.-based PowerDot. This is a 2.5-year-old maker of an app-based, smart muscle stimulation device, which is able to transmit electrical impulses to contract tender soft tissue. This helps cyclists and other athletes in the recovery process following the numerous exercises and workouts, which they may have subjected their muscles to.
As such, it is true to say that the past life of lance Armstrong have been instrumental in his 2019 venture which targets athletes of all kinds in a way that strives to make their life easier and better. This is because, having been an athlete himself, (cyclist), lance understands what workouts can do to the muscles in the recovery process and maybe, in his own way, this is a way of making amends for the disrepute he was involved in.