Carmelo Anthony Rumors, News: New York Knicks' NBA All-Star Starts Venture Capital M7 Tech Company After Headlines Speculate About Lakers, Bulls

According to new reports, while we were busy gossiping about NBA All-Star Carmelo Anthony leaving the New York Knicks to join the Chicago Bulls or the Los Angeles Lakers, the 30-year-old was working on a venture capital company for tech world investments! His company, M7 Tech Partners, is Carmelo's way of expanding his business horizons past his NBA fame by taking advantage of his social media and celebrity status.

Anthony's recent contract with the Knicks is rumored to be worth $122 to $129 million, so it looks like his first investment with this new signing is in his own business.

Carmelo is "hoping to leverage a social media presence of over 5 million followers and his Melo brand into success in tech investment," TechCrunch reports. "The New York-based firm will invest in early stage digital media, consumer internet and opportunistic technology startups."

"For as long as I can remember, I've been interested in technology," Anthony said in a statement, according to Valley Wag. "We are actively looking for ventures with strong leaders creating breakthrough products that resonate with consumers. I particularly have my eye on companies that are involved with wearable technology and connected devices. These will be huge areas for the future."

Anthony is partnering with NBC and Bertlesman executive Stuart Goldfarb on this new venture. Goldfrab ran the Columbia House and Book of the Month Club mail order companies, leading to his current wealth.

What do you think of Carmelo Anthony's new business? Let us know in the comments section below!

(via Valley Wag)