The Sunday Mirror says Malouda has bought a stake in French club Dijon.
The Burgundy-based outfit has just won a first-ever promotion to Ligue 1 and Malouda's younger brother Lesly plays for them.
The 30-year-old Blues ace announced his investment plans at Dijon's town hall yesterday.
Alex Hayes, Malouda's agent, said: "This is a partnership based on youth development, and Florent hopes to give Dijon the benefit of his experience.
"But he won't be part of the club's day-to-day running for now."
French international Malouda is under contract with Chelsea until 2013.