Athlete Venture Group Enables Current and Former Professionals to Work with Top Sports Tech Startups
Athlete Venture Group Enables Current and Former Professionals to Work with Top Sports Tech Startups
As a result, firms within the VC and PE space have made efforts to involve athletes in their group of investors and partners to help them become better investors, teach them how to evaluate deals, meet the right people, and let them find the funds, franchises, and other investments that suit their needs, interests, and budget.
For instance, SeventySix Capital — the venture capital firm investing in tech startups in sports, esports, and sports betting — created the Athlete Venture Group that allows players to invest, learn, and work directly with top sports tech startups and entrepreneurs.
“We believe that having an athlete as an investor or advisor in a sports deal is important. An elite athlete can help an entrepreneur build a successful business because the same traits that made them successful in their respective sport are what you need to be successful in business: passion, desire, drive, and persistence,” said Wayne Kimmel, Managing Partner at SeventySix Capital.
Through its advisory practice, the vision of Patricof Co. is to provide athletes with the tools and knowledge to get involved and invest in companies. The goal is to educate and untangle their hesitation by providing the right information and teaching them things like pattern recognition and business and financial fundamentals, explained Magliocco.
“Education and network are vital for athletes — for example, we organize executive speakers series, where we aim to have athletes engage with a network of key investors and stakeholders in the industry.”
The expanding client base of PE investment firm Patricof Co. — whose clientele is made up of world-class professional athletes — points to the burgeoning value these firms can provide to athletes.
The development and expansion of these funds have allowed athletes from all ends of the earnings spectrum to get more involved — not only the ones owning investment firms.
Today, thousands of athletes invest in diverse asset classes — from consumer-focused products to sports technologies, teams, and emerging technologies like NFTs, Crypto, and others.
With the right tools, platforms, and advisors — should athletes pursue any kind of investment opportunity?
Source: https://12ft.io/proxy
