How Lance Armstrong Is Investing in the Next Generation of Athletes

Through Mentorship and Innovation

Lance Armstrong, once known for his dominance in professional cycling, has turned his attention to supporting the next wave of athletic talent beyond the racecourse. Through his venture capital firm, Next Ventures, Armstrong is investing in businesses focused on sports, fitness, and whole-person health—aiming to shape new opportunities for current and future athletes. This strategic move comes as the world of sports investment evolves, with more athletes exploring ways to impact the industry off the field.

Armstrong’s initiatives extend beyond traditional sponsorships, emphasizing sustainable growth and innovative health solutions. His firm recently began raising its second fund, targeting $100 million to accelerate early-stage startups that empower athletes and promote preventive care.

By leveraging his experiences and network, Armstrong is championing projects that bridge athletic performance, wellness, and business, providing athletes with resources and pathways for success after their playing days are over.

Lance Armstrong's Transition From Cycling to Investing

After stepping away from professional cycling, Lance Armstrong redirected his focus to entrepreneurship and investing, applying experience gained both on and off the bike. His successes and controversies shaped his worldview and sharpened his approach to new opportunities.

The End of a Professional Cycling Career

Armstrong retired from pro cycling for the first time in 2005, following a historic run of seven consecutive Tour de France titles. Although he returned briefly to competitive racing in 2009, by early 2011 he left the sport for good.

His departure marked the end of an era, both for himself and for competitive cycling. Facing mounting questions about doping, Armstrong was forced to reevaluate his future, leading him to pivot toward business and investing.

Later, he turned his attention to venture capital, becoming a co-founder of Next Ventures. Based in San Francisco, this firm aims to support healthy lifestyle, sports, and wellness companies. Armstrong’s transition into investing reflects a shift from personal competition to supporting the growth of future athletes and entrepreneurs.

Lessons From the Tour de France Titles

Armstrong’s approach to business is heavily influenced by his experiences during his Tour de France victories. The discipline, preparation, and team coordination required to win cycling’s most prestigious race became foundational to his investing strategy.

Key lessons from his cycling career include resilience, risk assessment, and the drive for continuous improvement. Armstrong often cites the importance of data analysis and evidence-based decisions—principles he now applies to evaluating investments and startups.

His time leading elite teams taught him the value of strong networks and mentorship. In a table format, some of these transferable skills include:

Cycling Skill Investing Application Strategic Planning Portfolio Management Risk Management Startup Due Diligence Team Leadership Mentoring Founders

Through direct involvement in new ventures, he leverages those traits to help guide emerging talent and new businesses.

Impact of the Doping Scandal

The public exposure of Armstrong’s role in professional cycling’s largest doping scandal had a major impact on both his reputation and future prospects. He was stripped of all seven Tour de France titles in 2012 and faced substantial financial and personal consequences.

Sponsorship losses and legal settlements significantly changed Armstrong’s outlook. He became more cautious about reputation, trust, and ethics in all pursuits. His admission to doping led him to focus on transparency and accountability, which he now emphasizes in business dealings.

The experience prompted him to recognize the value of diligent oversight and regulatory compliance. In embracing these principles, Armstrong seeks to ensure his investments and partnerships move forward with integrity and clear ethical standards.

Founding NEXT Ventures and the Vision for the Next Generation

Lance Armstrong co-founded NEXT Ventures in 2019 to address gaps in athlete development and health. He and his team focus on fostering innovation in sports, fitness, and wellness by supporting entrepreneurs with a commitment to long-term impact.

Mission and Focus Areas

NEXT Ventures was established as an early-stage venture capital firm aimed at improving health outcomes for athletes and active individuals. Its core mission is to invest in startups that advance sports, fitness, and whole-person wellness. Unlike many firms, NEXT Ventures pays close attention to both physical and mental health.

The firm targets innovations that enhance athletic performance, recovery, and longevity. With its roots in sports, it backs founders who address the unique challenges faced by athletes at every stage of their careers. The first fund closed at $50 million, and recent fundraising targets suggest growing confidence in their approach.

Key focus areas include:

• Sports technology and wearables

• Fitness platforms and services

• Holistic wellness products

• Health data analytics

The Role of Lionel Conacher

Lionel Conacher, co-founder and managing partner, plays an essential role in shaping NEXT Ventures’ direction. With deep experience in both venture capital and sports entrepreneurship, he brings operational insight to each investment decision.

Conacher’s background includes leadership roles in sports data and health tech companies. This hands-on expertise helps the firm evaluate startups for both commercial viability and impact on athletes’ lives. He works closely with Armstrong to identify founders who are dedicated to making tangible improvements in athlete health and capability.

By leveraging Conacher’s connections and strategic knowledge, NEXT Ventures ensures each investment aligns tightly with its mission. This partnership strengthens the firm’s ability to guide startups from concept to commercial success, and attracts innovators looking for a supportive investor.

Whole-Person Health Approach

NEXT Ventures emphasizes a whole-person health philosophy, recognizing that athletic success depends on more than just physical capability. The firm believes that true athlete wellness must consider mental health, recovery, nutrition, and long-term prevention.

In practice, this means investing in companies that offer solutions for sleep optimization, injury prevention, stress management, and sustainable training routines. The portfolio reflects a broad approach—ranging from digital health platforms to smart recovery tools.

NEXT Ventures assesses opportunities by asking if a product or service addresses the full spectrum of athlete needs. This approach not only differentiates the firm in the market but also helps foster healthier athletes, equipped for long-term achievement both on and off the field.

Lance Armstrong’s Investment Philosophy

Lance Armstrong approaches investing with a focus on sectors that reflect both his experience and market opportunities. His decisions emphasize health, wellness, and scalable startups, with careful attention to the structure and size of each fund.

Prioritizing Health and Wellness Startups

Armstrong centers much of his investment activity on the health and wellness sector. Through his firm, Next Ventures, he actively seeks out startups that have the potential to improve physical performance, recovery, nutrition, or overall well-being.

He evaluates companies for scalable, transformative business models—prioritizing innovative products and services that align with athlete needs and changing consumer health trends. This includes targeting startups in connected fitness, wearable technology, supplements, and coaching platforms.

For the inaugural Next Ventures fund, Armstrong and his partners set a $75 million target and ultimately secured $50 million, plus another $10 million in special purpose vehicles. This capital was directed to firms that demonstrate credibility and impact within fitness, health, and medical spaces. Armstrong’s athlete experience and personal credibility in these fields also shape how he vets and supports founders.

Venture Capital Strategy

Armstrong adopts a disciplined venture capital strategy that combines professional due diligence with founder insight. He looks for early to growth-stage companies, aiming to provide value beyond capital by leveraging his network and expertise.

With Next Ventures’ Fund II, the team set a higher target of $100 million, signaling confidence in scaling their impact and expanding their portfolio. Armstrong’s approach emphasizes identifying transformative, disruptive models—mirroring his successful early investment in Uber, which he credits as financially transformative.

Key steps in his process include in-depth market analysis, rigorous vetting, and active board involvement. Armstrong partners with co-investors who share sector knowledge, ensuring alignment and added value. His strategy balances risk with the pursuit of companies that could shape the future of health, fitness, and athletic achievement.

Key Portfolio Companies and Innovation

Next Ventures, led by Lance Armstrong, has strategically invested in startups that target advancements in athlete performance and wellness. These investments highlight the intersection of health technology, sports innovation, and the growth of the global wellness market.

Amp Human: Performance Enhancement

Amp Human, backed by Next Ventures, is focused on developing products to improve athlete performance and recovery. Its flagship product, PR Lotion, uses bicarb delivery to help athletes train harder and recover faster.

The company collaborates with athletes, trainers, and researchers to validate the efficacy of its solutions. Clinical research and partnerships with professional teams offer credibility and practical feedback for ongoing development.

Amp Human addresses the growing demand for science-backed sports technology in both professional and amateur markets. With recovery and performance at the core, it exemplifies a startup leveraging innovation for real-world athletic improvement.

Oura: Health Technology

Oura is a leading company in wearable health technology, supported by Next Ventures, that produces a smart ring focused on accurate biometric tracking. The Oura Ring monitors metrics such as sleep quality, readiness, and overall health trends.

Athletes and health-conscious consumers use the device to gain actionable insights for performance optimization and recovery strategies. Integration with apps and platforms enables users to personalize their wellness routines based on real data.

Oura stands out in the rapidly expanding wellness market by prioritizing precision and user experience. Clear data visualization and actionable guidance make it a preferred tool for those serious about health and peak performance.

Investing in Recovery and Human Performance

Lance Armstrong’s investment approach includes advancing technology and solutions designed to support athlete recovery, performance, and long-term wellness. His portfolio spans from muscle stimulation devices to performance-oriented creams and diagnostic innovations.

Muscle Stimulation Devices: PowerDot

Armstrong has invested in PowerDot, a smart muscle stimulation device developed for both amateur and professional athletes. PowerDot uses electrical impulses to stimulate muscle fibers, which can aid muscle recovery and reduce soreness after intense exercise.

The device connects wirelessly to a mobile app, allowing users to customize their recovery routines and track progress. These features help make recovery more personalized and data-driven.

Athletes benefit from better management of muscle fatigue and potentially shorter downtime between workouts. PowerDot’s technology is positioned to play a key role in the trend toward connected, at-home recovery solutions.

PR Lotion and Exercise Recovery

Armstrong has backed Amp Human, the company behind PR Lotion, a topical product designed to deliver bicarbonate directly through the skin to working muscles. The goal is to help buffer lactic acid buildup during intense exercise, supporting longer training sessions and improved recovery.

PR Lotion is used by elite athletes seeking to optimize performance and reduce muscle soreness. It applies easily and integrates into existing training routines.

By investing in products like PR Lotion, Armstrong is supporting new recovery protocols that go beyond traditional methods such as rest and ice. These innovations are backed by both user experience and ongoing performance research.

The Role of Diagnostics in Preventative Care

Diagnostics play a growing role in athlete health, shifting focus from reactive treatments to preventative care. Armstrong’s firm, Next Ventures, has shown interest in diagnostics and health tech firms like Vital Bio, which work on real-time blood biomarker analysis.

Such technologies enable athletes and their support teams to monitor critical health metrics daily. Early detection of vitamin deficiencies, inflammation, or overtraining indicators allows interventions before more serious issues develop.

Investment in diagnostics aligns with broader trends in athletic care, where continuous monitoring and actionable data support individualized training and recovery strategies. This approach seeks to extend athletes’ careers while minimizing risk factors.

Funding, Partnerships, and the Broader Wellness Ecosystem

Lance Armstrong’s investment approach leverages venture capital, targeted partnerships, and a technology-driven vision for healthcare transformation. These efforts are designed to support the next generation of athletes by improving access to health, wellness, and performance solutions.

High-Profile Fundraising and Funding Rounds

Next Ventures, founded by Lance Armstrong in 2019, focuses on raising substantial capital to support health and wellness startups. After closing its first fund at $50 million—plus an extra $10 million in special purpose vehicles—the team is now targeting a $100 million second fund.

The firm emphasizes early-stage investments, specifically targeting seed and Series A rounds. This strategy aims to identify promising technologies and services before they scale, enabling Armstrong’s team to shape the wellness sector from the ground up. The focus areas include biometric tracking, digital health platforms, fitness recovery technology, and nutrition.

Key Investments:

Area Example Focus Digital Health Biometric tracking, wearables Performance Recovery Fitness tech, smart apparel Nutrition Personalized supplements

Collaborations With Lowercase Capital

Armstrong’s Next Ventures has pursued meaningful collaborations with established investment firms such as Lowercase Capital. Lowercase Capital is well-known for supporting disruptive startups in their early stages, particularly in health tech and wellness.

These partnerships combine Armstrong’s expertise in athlete performance with Lowercase Capital’s track record in venture funding. Joint efforts enable access to a wider network of founders and investors, increasing deal flow and collective industry insight. This approach allows Armstrong’s firm to amplify its impact without operating in isolation.

Key benefits include:

• Access to unique startup pipelines

• Shared risk and knowledge transfer

• Faster path to market for innovative solutions

Building Healthcare Infrastructure

Beyond funding, Armstrong’s initiatives involve building robust healthcare infrastructure for both athletes and general consumers. This includes supporting technologies that streamline data collection, improve injury recovery, and allow real-time health monitoring—crucial for both sports and everyday wellness.

These infrastructure investments lay the foundation for scalable health solutions. They focus not just on performance but also on preventive care, ensuring athletes maintain long-term well-being. By prioritizing infrastructure, Armstrong’s ventures facilitate partnerships with hospitals, training centers, and digital care platforms, creating a broader ecosystem of support.

Emphasis on data security and interoperability ensures solutions remain reliable and accessible to diverse user groups.

The Role of Sponsorship and Influence in Sports Technology

Investments and sponsorships are shaping the way the sports industry adopts new technology and wellness solutions. Influential figures often guide market trends, helping startups and brands establish both credibility and visibility in a competitive space.

Backing Emerging Sports Technology Startups

Lance Armstrong leverages his influence and resources to provide funding and attention to early-stage sports technology startups. By partnering with promising companies, he helps accelerate product development and bridges the gap between innovative concepts and practical use.

He often brings strategic value beyond financial backing. Armstrong’s experience as a professional athlete allows him to evaluate the real-world impact of emerging technologies, making his support meaningful to founders.

Investors and sponsors in this sector typically focus on advancements such as wearable tech, performance analytics, and recovery tools. Armstrong’s endorsement not only gives startups access to networks inside the sports ecosystem but also validates the usefulness of their products.

Examples of areas that receive sponsorship and investment:

• Smart wearables for training and recovery

• Data-driven performance platforms

• Nutrition and hydration technologies

Establishing Credibility in the Wellness Market

The wellness market is competitive, with countless products and brands vying for attention. Armstrong’s name recognition and understanding of athletic wellness enable brands to build consumer trust faster when he is involved as a sponsor or advisor.

By associating with wellness startups, he often helps companies address skepticism about new products. Armstrong can highlight how specific technologies contribute to measurable improvements in health or athletic performance through firsthand testing or public testimonials.

Establishing scientific credibility is crucial. Partnerships with athletes who have deep knowledge of training, recovery, and wellness—such as Armstrong—can make a difference in how technologies are received by both sports professionals and consumers.

Key aspects enhanced by credible sponsorship:

Feature Impact Trusted endorsements Increases adoption rates Athlete validation of products Boosts market confidence Scientific and practical testing Supports claims with evidence

Personal Growth, Resilience, and Giving Back

Lance Armstrong’s journey as a cancer survivor, philanthropist, and active advocate has shaped the next generation of athletes in meaningful ways. Through his example, he demonstrates how confronting adversity can evolve into purposeful action and community impact.

From Cancer Survivor to Advocate

Armstrong was diagnosed with testicular cancer in 1996 at age 25. Facing aggressive treatment and a challenging prognosis, he demonstrated remarkable personal resilience. The experience permanently changed his perspective on life and competition.

Rather than retreating, he returned to professional cycling, winning seven consecutive Tour de France titles. Armstrong has described how fighting cancer taught him discipline, patience, and new ways to approach suffering—qualities relevant beyond sports. His story, marked by both triumph and controversy, continues to resonate with anyone confronting life-defining obstacles.

Involvement With the Livestrong Foundation

In 1997, Armstrong founded the Livestrong Foundation. The organization originally focused on providing support for people affected by cancer, including counseling, financial guidance, and survivorship programs. It soon became one of the most recognized cancer-related nonprofits worldwide.

Livestrong’s impact extended beyond direct services—it played a key role in starting conversations about survivorship and life after treatment. Armstrong’s willingness to share his story gave the foundation credibility and personal connection. He leveraged his visibility to drive fundraising and took an active role in charity initiatives.

Promoting Cancer Awareness Initiatives

Armstrong’s advocacy helped bring cancer awareness into mainstream discussion, especially among young people and athletes. Through Livestrong, he worked with schools, sports clubs, and community organizations to increase early detection and reduce stigma surrounding the disease.

Key awareness campaigns, such as the iconic yellow wristbands, reached tens of millions of supporters. Armstrong supported research funding and regularly spoke at global events to highlight gaps in cancer care. His efforts encouraged a broader definition of resilience—one involving both personal strength and public advocacy.

Legacy and the Future of Athlete Investment

Lance Armstrong applies his experience in elite sports to investing in innovative health and performance ventures. His actions influence not only athlete development but also broader conversations around integrity and personal commitments.

Shaping Anti-Doping Measures

Armstrong’s career is inextricably linked to the era’s anti-doping efforts. His public fall from grace pushed global sports organizations to overhaul testing and transparency policies.

Key cycling bodies and the World Anti-Doping Agency intensified their investigative protocols and standards after his case. Today’s elite athletes are subject to stricter, more frequent testing, and improved sample storage for future analysis.

Armstrong often addresses anti-doping when speaking with younger athletes. He emphasizes personal accountability and the long-term risks of shortcuts, sharing firsthand the professional and personal consequences. The evolution of anti-doping systems owes much to lessons learned from athletes like Armstrong.

Impact on the Next Generation of Athletes

By investing in health technology and wellness startups, Armstrong leverages capital and insight to shape the future of human performance. As managing partner of Next Ventures, he directs funds toward companies working on wearables, biometric tracking, and nutrition solutions.

Below is a quick look at Next Ventures’ priorities:

Focus Area Relevance to Athletes Health Tech Injury prevention, performance metrics Consumer Wellness Recovery tools, mental health support Preventive Care Early intervention and longevity

Armstrong’s involvement doesn’t end at funding. He regularly mentors founders, supporting new approaches to athlete health and resilience. His approach encourages young athletes to view wellness as a foundation, not an afterthought.

Commitment to Family Life

Despite a public profile built on competition and business, Armstrong has stressed the significance of family life. He frequently acknowledges the stabilizing influence of his children and partner.

After his return to civilian life, Armstrong devotes more time to family and charitable pursuits. This rebalancing highlights a holistic vision of success, where personal well-being is as vital as public victories.

He often encourages athletes to prioritize family, mental health, and work-life balance. Armstrong’s journey underscores the importance of integrating personal values with professional aspirations in modern sports culture.