More than 200 athletes, including retired Philadelphia Eagles center Jason Kelce, are investing in consumer brands through one boutique investment firm, Patricof Co., writes Ken Belson for The New York Times.

Since 2019, Kelce has personally invested in 20 companies. For some of them, he’s also endorsing their products in ads.  

Many professional athletes put their investments in places like stocks and bonds. Others may try riskier investments with startups, restaurants and family businesses.

Mark Patricof opened Patricoff Co. in 2018, spotting a market opportunity for athletes willing to invest 10 to 30 percent of their wealth in private equity deals.

Patricof Co teams up with large firms to buy into consumer brands that match athletes’ interests.

The involvement of pro athletes, like Kelce promoting the products he’s invested in, set the Patricof investments apart from other firms.

“For me as a business owner, it’s a level of authenticity,” said Joe Baker, founder of Ole Smoky’s a product being endorsed by Jason Kelce. “It’s not paying somebody to say they like your brand, it’s partnering with somebody who’s investing in the brand because they believe in it in the first place.”

Read more about the investment relationship between pro athletes and Patricof Co. in The New York Times.