What do you do after you sell your start-up time keeping company to Billabong for millions of dollars? Well, if you’re business jock (and Nixon co-founder) Andy Laats you spend your spare time with a group called the “Angel Investing Group of San Diego Sports Innovators” looking for daring new action sports companies who can take a little money and turn it into a lot, according to a story in the San Diego Union-Tribune.
Attracting the money to fund these new companies is the next step for this group that is headed by former basketball star Bill Walton. The event was held at his house, which is like walking into a rock ’n’ roll, basketball, Grateful Dead overgrown rain forest complete with tennis court and even a teepee. He dragooned his gang — which included Bill Strauss (Provide Commerce), Jeff Jacobs (Qualcomm), Scott Kaplan (XX 1090), Andy Laats (Nixon Watches), Ted Roth (Roth Capital), Jim Morris (private investor) and another 30 investors — who listened to presentations from three action sports companies.
Which reminds us, there is nothing more fun than spending other people’s money.
[Link: San Diego Union-Tribune]
