Former President Barack Obama announced his partnership with the National Basketball League’s new international venture, NBA Africa, to serve as a strategic partner and minority owner.

After launching in May, NBA Africa is already valued at $1 billion following a successful inaugural season of the Basketball Africa League (BAL) which NBA Africa oversees. Obama now joins a list of notable investors, including Dikembe Mutombo, Grant Hill, and Junior Bridgeman. While the terms of Obama’s equity in the venture were not disclosed, it was reported that the former president would use his stake to fund programs and initiatives for the Obama Foundation across the African continent.