Chris Paul, the 11-time NBA All Star and point guard for the Phoenix Suns, has invested in a Black-owned rosé wine brand.
Miami-based La Fête Wine Co. said Monday morning that Paul joined the company as an equity partner. The amount of Paul's investment in the company has not been made public.
Paul, who has played in the NBA since 2005, has been an active investor during his basketball career including in startups like banking app Goalsetter, media software firm Greenfly, and plant-based meat company Beyond Meat Inc. (Nasdaq: BYND).
The wine company has been around since 2019 and its founder and CEO, Donae Burston, heralded it as the first entirely Black-owned rosé wine brand out of St. Tropez, France.
In May of 2021, La Fête received an investment from Constellation Brands (NYSE: STZ) as part of the New York company's effort to support Black-owned businesses.
Read more of this story from the Phoenix Business Journal.