The NBA Is ‘Open for Business,’ Looks to Invest In More Startups

The National Basketball Association is looking to actively gain equity stakes in more startups globally as the league formalizes its investment arm and looks to grow its portfolio.

Chief Financial Officer David Haber said in an interview that the league is “open for business” to consider deals through its new NBA Equity division. It’s searching across categories including apparel, fitness, media, merchandising, fantasy sports, fan engagement and sports betting.

“It made sense for us to be more proactive,” Haber said. “That’s why we’ve structured our efforts.”

The NBA has nearly 20 companies in its portfolio, according to a person familiar with the matter, who asked ...