Two professional sports team owners and famous athletes participated in SeventySix Capital’s second funding round. The capital funding round is focused on bringing innovations within the sports industry in the US. Additionally, the latest funding round complements SeventySix Capital’s goal to capture the legal sports betting market in the country.
Athletes and Pro Teams Join SeventySix Capital’s Latest Funding Round
Leading sports tech venture company SeventySix Capital announced on Monday the initial closing of a second funding round. The company explained that the latest funding round will invest in companies that leverage analytics, data and technology to bring innovations to the sports industry. Additionally, the funding round complements SeventySix Capital’s goal to capitalize on the continuously growing legal sports betting industry across the US.
The company unveiled that athlete investors, as well as two professional sports team owners, participated in the latest funding round. Arthur M. Blank, owner and chairman of the NFL Atlanta Falcons, as well as MLS Atlanta United, is among the investors in the second funding round. MLB’s Pittsburgh Pirates chair, Robert Nutting, is also among the investors.
Ben Franklin of the Technology Development Authority and legendary NFL players DeMarco Murray and Brian Westbrook are return investors who participated in the second funding round. Additionally, we see more professional athletes who decided to join the funding, such as Alejandro Bedoya, captain of the Philadelphia Union. Legendary Super Bowl players James Develin and Emmanuel Sanders have also decided to participate in this round.
The Company Plans to Capitalize the Legal US Sports Betting Market
SeventySix Capital’s managing partner, Wayne Kimmel, deemed the funding round “an important milestone.” He outlined that SeventySix proved that it can leverage its access to deals and entrepreneurs who seek to transform the sports betting landscape. Additionally, Kimmel stressed that the company proved that it can build businesses with the help of sports relationships, knowledge, expertise and capital investment.
This next fund is an important milestone as we continue building SeventySix Capital as the go-to investment company in the sports industry.”Wayne Kimmel, managing partner, SeventySix Capital
Emmanuel Sanders added that he is excited to join the dynamic team of SeventySix Capital. He outlined that through his marketing agent, Dave Maryles, he was able to get to know the company’s team very well over the last few years. He stated that collaborating with SeventySix’s esports portfolio company, Nerd Street, has been great. “We share similar values and interests in entrepreneurship, the sports business, and overall the drive to work hard to achieve lofty goals,” said Sanders in conclusion.
Until this day, SeventySix has sold a total of three portfolio companies. The famous sports betting network led by Brian Musburger, Bill Adee and Brent Musburger, VSiN was sold to DraftKings. Additionally, the company has sold the sports entertainment and media company Team Whistle to ELEVEN SPORTS. Lastly, SeventySix has sold the innovative sportsbook dubbed Vigtory to FuboTV.