Jim Reynolds has already built something historic. His firm, Loop Capital, is the largest Black-owned investment bank in the world, a Wall Street powerhouse that has underwritten billions in deals. Now he is bringing that same ambition to an entirely different arena: the premium beverage aisle.
Reynolds, alongside some of the NBA's biggest stars, is backing Coco5, a clean hydration drink positioning itself as a player in the fast-growing premium sports-beverage market. It is a move that says as much about where Black capital is heading as it does about any single product.
Why Beverages, Why Now
The hydration and sports-drink category has exploded, drawing celebrity money and challenger brands looking to unseat legacy giants. For Reynolds, the play isn't just about a refreshing drink. It is about ownership of a consumer brand, the kind of asset that builds equity, brand value, and generational wealth rather than simply a paycheck or an endorsement fee.
The strategy reflects a broader shift: Black business leaders moving from advising on and financing other people's companies to owning the brands themselves.
Athletes as Owners, Not Just Endorsers
The involvement of NBA stars signals an important evolution in how athletes approach business. For decades, the standard play was the endorsement deal, lend your name, collect a check. The Coco5 model flips that script, bringing athletes in as equity stakeholders with skin in the game.
It is the same lesson driving conversations across Black sports and business circles: earned income gets taxed and spent, but ownership compounds. A stake in a growing brand can outlast any contract.
The Loop Capital Blueprint
Reynolds built Loop Capital from the ground up into a firm that competes with the biggest names on Wall Street, proof that Black-owned institutions can operate at the highest levels of global finance. By lending that credibility and capital to a consumer brand, he is modeling a path other Black executives and athletes can follow: use the wealth and expertise built in one arena to acquire and grow assets in another.
Whether Coco5 becomes a household name remains to be seen, the beverage graveyard is full of promising challengers. But the bigger story is the blueprint: Black financial power flowing into brand ownership, with athletes at the table as partners. That is a model Black Beat will be watching closely.