NFL Legend Joe Montana Leveraged 49ers Ties to Become Investor

The four-time Super Bowl champion used his connections with top VC execs to launch a successful second career in venture capital.

Published on Feb. 8, 2026

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After retiring from the NFL, legendary quarterback Joe Montana wasn't initially interested in becoming an investor. However, his former 49ers teammates Harris Barton and Ronnie Lott convinced him to start a 'fund of funds' to leverage their connections with top venture capitalists in Silicon Valley. Montana later moved to Napa and connected with angel investor Ron Conway, who encouraged him to start his own fund, Liquid 2, in 2015. Liquid 2 has since invested in over 800 companies, including early bets on GitLab, Rappi, Anduril, and Pipe.

Why it matters

Montana's transition from NFL star to successful venture capitalist highlights the convergence of Silicon Valley and professional sports, as well as the value of building strong personal and professional networks. His story demonstrates how elite athletes can leverage their brand, relationships, and business acumen to launch second careers in the tech and investment world.

The details

After retiring from the NFL, Montana's former 49ers teammates Harris Barton and Ronnie Lott approached him with the idea to start a 'fund of funds' to leverage their connections with top VC firms like Sequoia, Kleiner, and Excel. Montana and his associates initially raised $15 million, which they used to invest in leveraged buyout funds, hedge funds, and real estate funds. However, Montana later moved to Napa, forcing him to step back from the fund. He then connected with angel investor Ron Conway, who introduced him to tech incubator Y Combinator and encouraged him to start his own fund, Liquid 2, in 2015. Liquid 2 has since invested in over 800 companies, including early bets on GitLab, Rappi, Anduril, and Pipe.

  • Montana retired from the NFL after winning four Super Bowls with the 49ers.
  • In the years after his retirement, Montana's former teammates Harris Barton and Ronnie Lott approached him with the idea to start a 'fund of funds'.
  • Montana and his associates initially raised $15 million for the fund.
  • Montana later moved to Napa, forcing him to step back from the fund.
  • In 2015, Montana started his own fund, Liquid 2, after connecting with angel investor Ron Conway.

The players

Joe Montana

A legendary NFL quarterback who won four Super Bowls with the San Francisco 49ers and later transitioned into a successful career as a venture capitalist.

Harris Barton

A former offensive tackle for the San Francisco 49ers who approached Montana with the idea to start a 'fund of funds'.

Ronnie Lott

A former safety for the San Francisco 49ers who approached Montana with the idea to start a 'fund of funds'.

Ron Conway

A prominent angel investor in Silicon Valley who introduced Montana to tech incubator Y Combinator and encouraged him to start his own fund, Liquid 2.

Bill Walsh

A legendary NFL coach who taught Montana how to assemble a good team, a skill he later applied to his venture capital investments.

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What they’re saying

“Everybody thinks it's always about product. But as early as we invest, most of the time it's about people, and what you're betting on are the founders.”

— Joe Montana (CNBC)

“Because of his affable personality and his brand, he is able to get into really good syndicates and have lasting relationships.”

— Ron Conway, Angel Investor (Worth)

What’s next

Montana continues to actively manage his Liquid 2 venture capital fund, which has invested in over 800 companies since its founding in 2015.

The takeaway

Joe Montana's transition from NFL legend to successful venture capitalist demonstrates the value of building strong personal and professional networks, as well as the ability to apply skills and lessons learned in one field to another. His story highlights the growing convergence of Silicon Valley and professional sports, and how elite athletes can leverage their brand and business acumen to launch second careers in the tech and investment world.