Basketball Hall of Famer David Robinson, co-founder of Admiral Capital Group, is helping to raise $50 million for a new investment fund designed to help develop economically depressed neighborhoods in Texas, reported CNBC.
The fund, Blueprint Local, is an opportunity zone investment platform.
“Addressing the education challenge, the employment and opportunity challenge,” said Robinson, adding that the fund is “very interesting for local investors” that want to give back to their communities and help develop under-invested areas.
Robinson is also investing in San Antonio by co-founding Carver Academy, a charter school system with 24 schools and a goal of opening 40 schools within the next four years.
