Greg Norman Launches $75 Million Business Investment Fund
Greg Norman is a busy, busy man.
The Shark can now add another occupation to his growing list of gigs: venture capitalist.
According to a CNBC report, Norman has launched a new division of Great White Shark Enterprises that will provide capital to small and medium-sized businesses. Dubbed the Great White Shark Opportunity Fund, Norman’s newest undertaking reportedly has $75 million in capital already.
“A lot of small, entrepreneurial businesses can’t get capital to grow their business,” Norman told CNBC.com. “Many years ago my partner, David Chessler, and I invested in a couple small businesses and just saw the returns we were generating…We started off very small, but now we’re growing at a comfortable pace, and we have institutions interested because we have a performance track record that’s very positive. We don’t want to be a $20 billion fund. We just want to be like the space we’re in.”
Norman’s current business ventures, which include course design, apparel, real estate, wine and GPS technology to name a few, raked in a reported $300 million in revenues in 2014.
“We’ve weathered the storm and are seeing things turning around, especially on a global front where we’ve reached only 20 percent of our potential,” Norman told CNBC. “Banking regulations in the U.S. have kind of killed the entrepreneurial spirit a little bit, but there are places in this country where you can do well and make money.
“That’s why I started the investment fund. There are a lot of opportunities out there because of the regulations in place.”
As Norman’s businesses continue to grow and evolve, we can only speculate on what’s next. Maybe a role on Shark Tank?