Former NBA player Metta Sandiford-Artest, also known as Metta World Peace, is seeking a $1 billion dollar investment for his Artest Management Group, per a Bloomberg report.

The fundraising has not started yet and the target price could change, as the management group is seeking investments in different industries.

Target Investments: According to Bloomberg, the fund will be focusing on the U.S. and Asia markets, looking to fund startups in health, sports, blockchain technology and real estate.

Additionally, the new fund could be used to make a large investment in a Las Vegas NBA arena or acquire new businesses.

Since Las Vegas finally received its first NHL and NFL team, the Vegas Golden Knights and the Las Vegas Raiders, there has been plenty of speculation on when they will acquire a professional basketball team.

Jim Murren, now the former CEO of MGM Resorts International (NYSE:MGM), mentioned in 2016 that Las Vegas would get an NBA team within a few years of the completion of T-Mobile Arena and Allegiant Stadium, as reported by Play USA.

With the construction of these new arenas, it could be possible that Metta World Peace invests in a new NBA sports team, as he spent nearly two decades showcasing his love for the game on the court.

Also Read: Russell Westbrook Enters Digital Media Game to Bring Focus to Multicultural Audiences

What Else: Artest Management Group has invested in previous projects such as Charge Enterprises Inc (NYSE:CRGE) and Planet Based Foods Global Inc (OTC:PBFFF), which builds electrification and telecommunications infrastructure for EV charging and manufactures and sells vegan meat-based products derived from hemp proteins, respectively.

Photo: DFree via Shutterstock

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