The company, billed as the leading firm in the sports venture capital industry, announced the initial closing of its second fund on Monday 27 September.
This new venture is intended to invest in entrepreneurs who are launching “game-changing sports betting, esports and sports tech” projects.
Wayne Kimmel, a Managing Partner at SeventySix Capital, commented: “This next fund is an important milestone as we continue building SeventySix Capital as the go-to investment company in the sports industry.
“We have proven that we have access to the deals and entrepreneurs seeking to transform the sports world, and that we are able to help them build their businesses with our capital investment as well as our sports relationships, knowledge and expertise.”
With this undertaking, SeventySix has added two professional sports team owners to act as investors and strategic partners.
Joining the new fund are Robert Nutting, Owner and Chairman of the Board of the Pittsburgh Pirates, and Arthur M. Blank, Owner and Chairman of the Atlanta Falcons and Atlanta United FC.
The firm has also expanded its roster of athlete investors with the additions of Emmanuel Sanders, Alejandro Bedoya, James Develin, Brian Westbrook and DeMarco Murray.
“I’m excited to officially join the already dynamic team at SeventySix Capital that I have gotten to know well over the last several years through my marketing agent, Dave Maryles,” remarked Sanders, a Super Bowl Champion and the two-time Pro Bowl NFL wide receiver of the Buffalo Bills.
“Given my personal passion for esports, it’s great working with Nerd Street, their esports portfolio company. We share similar values and interests in entrepreneurship, the sports business, and overall the drive to work hard to achieve lofty goals.”
To date in 2021, SeventySix Capital has sold three portfolio companies: VSiN, Vigtory and Team Whistle.
