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SeventySix Capital is a venture capital firm founded by Wayne Kimmel and Chad Stender, focusing on the sports industry. Established in the United States, the firm has a strong emphasis on investing in sports, media, and entertainment companies driven by innovative entrepreneurs. The firm operates from Pennsylvania and has raised multiple funds, with Fund II completed in 2021, targeting over $50 million.
The firm has a diverse portfolio that includes companies across various sectors, including gaming, media, esports, and data infrastructure. SeventySix Capital leverages its extensive experience in venture capital to provide both financial and social capital to its portfolio companies. The firm is committed to enhancing the sports landscape through strategic investments and advisory services.
SeventySix Capital has achieved notable milestones, including successful exits such as VSiN, Vigtory, and Team Whistle. The firm continues to explore new opportunities within the sports sector, focusing on the growth potential of sports assets, which are characterized by minimal market correlation.
SeventySix Capital invests in a wide array of sectors within the sports industry, including gaming, media, esports, data infrastructure, and artificial intelligence. The firm targets companies that enhance fan engagement and athlete ventures, emphasizing the transformative potential of technology in sports. Their investment strategy is centered around identifying 'the next, next thing' in sports, technology, media, and entertainment.
The firm typically invests in early-stage companies, focusing on seed to Series A rounds. Check sizes range from $500,000 to $5 million, depending on the opportunity and the stage of the company. SeventySix Capital is particularly interested in companies that leverage data and analytics to improve the sports experience, as well as those involved in youth participation, college athletics, and professional sports leagues.
Geographically, SeventySix Capital focuses on North America, seeking innovative startups that align with their investment thesis. The firm also provides advisory services alongside its investment funds, supporting athlete ventures and integrating technology into the sports sector.
SeventySix Capital's portfolio features a diverse range of companies that are making significant impacts in the sports industry. Notable current portfolio companies include:
In addition to these current investments, SeventySix Capital has achieved notable exits, including:
Wayne Kimmel - Managing Partner: Wayne Kimmel is a prominent figure in the venture capital space, known for his expertise in sports investments. He has been featured in various publications, including Chief Investment Officer magazine.
Chad Stender - Managing Partner: Chad Stender brings extensive experience in venture capital and entrepreneurship, focusing on innovative companies in the sports sector.
Jon Powell - Managing Partner: Jon Powell is a key player in the firm, contributing to investment decisions and strategic direction.
Scott Powell - Partner: Scott Powell plays a vital role in managing the firm's portfolio and supporting portfolio companies.
Jack Hally - Analyst: Jack Hally assists in research and analysis, helping to identify promising investment opportunities.
Lisa Fair - Digital Marketing: Lisa Fair manages the firm's digital marketing efforts, enhancing SeventySix Capital's online presence and outreach.
To pitch SeventySix Capital, founders should submit their proposals through the application page on the firm's website. A well-structured pitch deck is essential, including details about the business model, market opportunity, and team background.
Founders are encouraged to include information on how their startup leverages technology and data to enhance the sports experience. While warm introductions are beneficial, they are not strictly necessary for submission.
Response times can vary, but founders can expect to hear back within a few weeks after submission. It is advisable to follow up if no response is received within that timeframe.
SeventySix Capital operates several initiatives aimed at supporting athletes and entrepreneurs in the sports industry. One of the key programs is the Athlete Venture Group, which connects athletes with investment opportunities, allowing them to leverage their influence and insights in the sports market.
Another initiative is Rubicon Talent, a talent management program that focuses on helping athletes navigate their careers and business ventures. Additionally, the firm collaborates with the HEADstrong Foundation to support health and wellness initiatives, demonstrating its commitment to social responsibility within the sports community.
In 2023, SeventySix Capital announced the successful exit of VSiN, a sports betting media company, which was acquired by DraftKings. This marked a significant milestone for the firm, showcasing its ability to identify and support high-potential companies.
Additionally, the firm completed the acquisition of Vigtory by FuboTV, further solidifying its reputation in the sports investment space. These exits highlight SeventySix Capital's focus on transformative companies within the sports industry.
SeventySix Capital has also been actively engaging with the sports and technology sectors, emphasizing its commitment to supporting entrepreneurs and enhancing fan experiences through innovative solutions.
What are SeventySix Capital's investment criteria?
SeventySix Capital focuses on early-stage companies within the sports industry, particularly those that leverage technology, data, and analytics. They seek innovative startups that enhance fan engagement and athlete ventures.
How can I apply or pitch to SeventySix Capital?
Founders can apply for investment through the application page on their website. A well-prepared pitch deck should include details about the business model, market opportunity, and team background.
What makes SeventySix Capital different from other investors?
The firm specializes in the sports sector, providing not only capital but also strategic advisory services. Their extensive network in the sports industry allows them to offer valuable insights and connections to their portfolio companies.
What is the geographic scope of SeventySix Capital's investments?
SeventySix Capital primarily focuses on North America for investment opportunities, targeting innovative companies within the region.
What is the typical check size for investments?
SeventySix Capital typically invests between $500,000 and $5 million, depending on the stage of the company and the specific opportunity.
What kind of post-investment involvement can founders expect?
SeventySix Capital provides ongoing support to its portfolio companies through strategic advisory services, leveraging their industry expertise and network to help companies grow and succeed.
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