2 sports officers launch company to invest approximately $50 M in early-stage companies

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2 sports execs launch firm to invest up to $50M in early-stage firms

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Newcastle United’s Alexander Isak in action with Crystal Palace’s Cheick Doucoure.

Lee Smith|Reuters

Two long time sports executives are releasing a financial investment company they state will back start-ups taking advantage of the growing chances at the crossway of sports, media and home entertainment.

Velocity Capital Management stated Tuesday it will invest approximately $50 million in early-stage business with business worths of approximately $2 billion.

One of Velocity’s co-founders is David Abrams, a co-owner of the English Premier League’s Crystal Palace and a previous personal equity partner and primary financial investment officer of Harris Blitzer Sports & &(******************************************************************************************** )which owns the NBA’s Philadelphia 76 ers and the NHL’s New JerseyDevils The other co-founder is Arne Reese, who most just recently worked as the U.S. CEO of Sportradar, a sports innovation organization.

The company has actually closed its very first financial investment in Camp NEW YORK CITY, which produces shop-and-play retail experiences based upon copyright from popular kids’s home entertainment, such as Disney’s “Mickey & Friends” and “Paw Patrol.”

“Camp is a business that cuts across some of the things we’ve been looking at as a firm,” stated Abrams.

The business’s shops, which are a mix of a shopping and interactive experience, lie in New York City, including its flagship area on Fifth Avenue, in addition to in New Jersey, California and Texas.

Velocity stated it has actually gotten financial investment capital from a range of sources, consisting of Delaware North, a personal business with a portfolio that consists of more than 50 home entertainment and sports places, sports wagering websites and the NHL’s BostonBruins Other financiers consist of Signify Wealth, a financial investment consultant with NFL customers; Remington Ellis, a sports marketing and skill firm; Bolt Ventures, a household workplace that purchases sports and home entertainment in the U.S. and Europe; and RWN Management, the household workplace of Apollo Global Management co-founder Mark Rowan.

In an interview, Abrams and Rees stated they chose to begin Velocity after viewing the sports and media environment progress in such locations as innovation, analytics and copyright.

“For now we are focused primarily on growth-stage companies,” statedAbrams “These are companies where we will likely take a non-control investment, but want to play an active role as an advisor or on the board.”

Abrams and Rees stated their background in investing and sports provided the self-confidence to get Velocity off the ground.

Before signing up with Harris Blitzer Sports & & Entertainment as its primary financial investment officer in 2018, Abrams worked as a partner at Apollo for much of his profession. Harris Blitzer– established by personal equity experts Josh Harris and David Blitzer– likewise owns the Prudential Center, the arena where the Devils play, and e-sports company New Meta Entertainment, to name a few organizations in the sports world.

Rees formerly directed Sportradar, an information company that deals with sportsbooks, sports federations and media business, through its IPO in2021 His resume likewise consists of functions at ESPN and the Union of European FootballAssociations

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