Kobe Bryant (center); his wife, Vanessa Laine Bryant; and his daughters, Gianna Maria-Onore Bryant and Natalia Diamante Bryant, arrive at the Nickelodeon Kids’ Choice Sports Awards July 14, 2016, in Westwood, Calif.
Jon Kopaloff/FilmMagic

On the heels of Kobe Bryant's retirement, the city of Los Angeles is recognizing the former Lakers star in a huge way. Los Angeles declared that Aug. 24 will be "Kobe Bryant Day," honoring Bryant's 20-year NBA career with the Lakers.

Bryant will be honored not only for his plays on the court but for those off the court as well. Bryant created the Kobe and Vanessa Bryant Family Foundation, which focuses on "improving the lives of youth and families in need, and encouraging young people to stay active through sports," and he also does work with the United Way of Greater Los Angeles' annual HomeWalk and the After-School All-Stars.

And just because Bryant has retired from basketball doesn't mean he hasn't kept himself busy. On Monday he announced the creation of his new venture capital fund. Bryant created the $100 million fund with brain scientist and tech entrepreneur Jeff Stibel, the Wall Street Journal reports.