From Panthers to private equity: Muhammad's firm expands
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Muhsin Muhammad II played most of his career with the Panthers. Photo: Streeter Lecka/Getty Images
Muhsin Muhammad II spent 14 years playing in the NFL, 11 of which were with the Carolina Panthers. Today he's a playing on a different field — private equity.
Why it matters: Charlotte-based Axum Capital Partners, where Muhammad is a managing partner and founder, recently launched a new $300 million fund focused on food and beverage companies fostering health and wellness.
- The goal is to work with companies based in the Southeast, but that doesn't rule out collaborating with companies based elsewhere.
Zoom in: Axum recently invested Le Botaniste, a fast-casual, organic, plant-based restaurant in Belgium and New York.
- "There are absolutely places in Charlotte that would be an amazing fit for this concept," Muhammad tells Axios of a potential Le Botaniste location. "We are definitely looking at bringing something like this to Charlotte."
What they're saying: People are more conscious about what they're putting in their bodies and more focused on healthy ingredients, Muhammad says.
Zoom out: Axum has also expanded its leadership team:
- Lance Johnson, a former Wells Fargo executive, and Derrick Brown, a former Charlotte Hornets player, will serve as general partners. They will lead the firm's business development and origination efforts.
- Ezra Field, a 14-year Roark Capital veteran, will be an Axum advisor.
- Josh Burris, the former GNC CEO, will serve as an operating partner.
- Lynn Girts, former CFO at Broadtree Partners, will be the firm's chief financial officer.
What we're watching: Axum has hit bumps in the road. Two companies in its portfolio filed for Chapter 11: Back Yard Burgers in June 2023 and Wild Wing Café in July 2023, CBJ reported.
- The current round of funding does not encompass those companies.
Between the lines: Axum plans to leverage Muhammad and Brown's transition from the locker room to the board room to connect with other athletes by partnering with Stephen Curry's creative firm 7K.
- "We know what it means to be a professional athlete," Muhammad says. "We know about the challenges of transitioning from professional sports into the business world. I think in many respects we've served as mentors and guides, not just within our profession, but overall."
- Muhammad envisions building out a platform to help educate athletes and also provide them with opportunities to make the transition from the field or the court to private equity.