In a CNBC interview on Thursday, the legendary quarterback recalled how former offensive tackle Harris Barton and former safety Ronnie Lott approached him with the idea of ​​starting a “fund of funds.”

“And because we live around all the guys who run Sequoia, Kleiner, Excel, all the top-tier funds, we’ll use our friendships to get access,” Montana said.

Silicon Valley and the NFL come together again on Sunday as the Super Bowl will be played in San Jose, where the 49ers currently play their home games.

Back when Montana first invested, he and his partners initially raised $15 million, and the fund grew from there, helping them get into leveraged buyout funds, hedge funds, and real estate funds, he said.

But Montana later moved two hours from San Francisco to Napa wine country, forcing him to back out of the investment.

Then she got together with angel investor Ron Conway because their children attended the same school. The cofounder of SV Angel introduced Montana to the tech incubator Y Combinator and encouraged him to start his own fund, Liquid 2, in 2015.

Conway advised Montana, who shared a key lesson he learned from the legendary Silicon Valley investor.

“Everyone thinks it’s always about the product,” he told CNBC. “But early on when we invested, most of the time it was about the people, and what you were betting on was the founders.”

Montana also said that his work at Liquid 2 is more interesting than funding funds because his work now requires deeper involvement with his portfolio companies, especially in the early stages.

On his part, Conway said bought Magazine that Liquid 2 is now as big as SV Angel, adding that he and Montana have invested a lot.

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

Liquid 2 has invested in more than 800 companies and is an early backer of GitLab, Rappi, Anduril, and Pipe, among others, according to bought.

While Montana doesn’t want his athletic fame to define his funding, he still uses his experience in pro sports to help him invest. He said NFL coaching icon Bill Walsh showed him how to assemble a good team. Montana also learned to see parallels between great founders and elite athletes.

“It all comes down to what’s inside of them and their desire to succeed,” Montana said. bought.