Yesterday, Conshohocken-based SeventySix Capital announced the initial closing of its latest venture capital fund to invest in passionate entrepreneurs who are launching game-changing sports tech companies. The fund is led by Wayne Kimmel, Jon Powell and MLB World Series Champion and NL MVP, Ryan Howard. SeventySix Capital was recently nominated as an Outstanding Investor by SportTechie alongside Blue Star Sports, Bryant Stibel, Courtside Ventures and Greycroft Partners.
Notable investors to date include DeMarco Murray, former Eagle and current all-pro running back of the Tennessee Titans, Michael Rubin, CEO of Fanatics and Kynetic, David L. Cohen, senior executive vice president and chief diversity officer of Comcast Corporation and the Commonwealth of Pennsylvania’s Ben Franklin Technology Development Authority.
SeventySix Capital also has a strategic partnership with Rubicon Talent, a sports marketing agency based in New York City, that represents professional athletes, Olympic athletes and sports broadcasters.
“My partners and I at SeventySix Capital and Rubicon Talent are bringing together like-minded athletes and entrepreneurs to build game-changing sports tech businesses, SeventySix Capital Partner, MLB World Series Champion, and NL MVP, Ryan Howard said. “I’ve met with and invested in founders of companies from Silicon Valley to Philadelphia and between. It’s clear that entrepreneurs possess the same traits as professional athletes – the hustle, dedication and drive to make the impossible possible.”
SeventySix Capital’s track record includes five portfolio companies acquired by Fortune 500 companies and a top performing U.S. stock for five consecutive years. Active portfolio companies include top digital sports media network, Whistle Sports, the world’s largest community of health startups and industry leaders, StartUp Health and crowdfunding giant, Indiegogo.
“I’m very active as an entrepreneur and investor in a number of businesses and wanted to get involved in venture capital during my time in the NFL. While I continue to play, I’m excited to be investing with an experienced team and to help the SeventySix Capital portfolio of startups get exposure in any way that I can,” said DeMarco Murray, All-Pro Running Back of the Tennessee Titans. “Having Wayne, Jon and Ryan on the team is huge because they have experience investing in sports tech companies. These guys know how to work hard everyday to accomplish goals like athletes do.”
Kwik (stylized as kwik) and N3rd Street Gamers are this fund’s first two investments. Kwik, a Tel Aviv-based startup, is the first open end-to-end IoT platform connecting retailers, brands and delivery providers for brands like Domino’s, Budweiser and Huggies. N3rd Street Gamers, headquartered in Philadelphia, empowers e-sports communities with arena facilities, production studios, gaming equipment, administration and broadcast services.
“We’re excited to announce the initial closing of our sports tech fund,” said Wayne Kimmel, SeventySix Capital Managing Partner. “Jon and I believe that our teammate, Ryan, partnership with Rubicon Talent and investor group of athletes like DeMarco Murray, executives and influencers, like Michael Rubin and David L. Cohen provides us with the unique relationships, knowledge and expertise necessary work with entrepreneurs to transform the sports world.”
Acknowledgement – Michael Rubin is an investor in Burb Media, LLC, the parent company of MoreThanTheCurve.com.
Photo: Image of Murray, DemarcoMurray.com