Challenger Secures Seed Funding from Group Led by SeventySix Capital

Challenger Secures Seed Funding from Group Led by SeventySix Capital

AI startup is bringing “cash play” esports to over 300 million players

SAN DIEGO – March 15, 2022 – Challenger, an on-demand video game wagering platform, announced today that it received a strategic investment from SeventySix Capital, Revel and Acies Investments.

Challenger is an online platform that provides a new way for casual gamers to wager with real money against other players on their favorite video games. Challenger’s mission is to create a secure and trusted environment for gamers of all skill levels to compete for real money in esports, offering a unique on-demand approach for video gamers to compete for cash on major game titles. 

Challenger’s technology automatically monitors a gamer’s gameplay and translates the video into data used for contest outcomes and behavioral insights. Challenger uses its patented AI technology to enhance the video gaming experience with cash contests and is capable of supporting any game through a proprietary mix of deep and machine learning methodologies. Challenger will be expanding support to XBOX and PlayStation consoles along with introducing its skill-based contests to multiple new game titles. 

“The mass market of video game players still have no option to participate in skill-based contests at scale,” said Challenger CEO and Founder Chris Slovak. “In North America and Europe alone, there are more than 300 million gamers over the age of 18 who play regularly and have no solution to complement their gaming experience with cash-based contests. Challenger was launched to overcome this problem.”

The investment round is led by industry-leading sports tech venture capital company SeventySix Capital, which invests in game-changing esports, sports betting, and sports technology companies. “Challenger autonomously supports cash contests on esports,” SeventySix Capital Managing Partner Wayne Kimmel commented. “The company, led by Chris Slovak and Chris Andres, is positioned to have the most unique and expansive dataset on gamer behaviors, as it expands to cross-platform, cross-game, and cross-studio esports wagering.” 

About Challenger

Challenger is a technology company that specializes in creating a secure and trusted service for video gamers to play their favorite games with skill-based cash wagering. Unlike other tournament platforms, Challenger doesn’t require 1v1 or scheduled play. The Challenger app detects when other users are available, tracks scores and outcomes, and automatically transfers the wager between players. For more information, please go to PlayChallenger.com.

About SeventySix Capital

SeventySix Capital is a sports-focused venture capital company that has been building sports technology companies for over two decades and leverages that experience through its Sports Advisory consulting group. SeventySix Capital also has its Athlete Venture Group, which allows current and former players to invest, learn, and work directly with top sports startups and entrepreneurs. To learn more about SeventySix Capital, please visit seventysixcapital.com.

Dan Le Batard Show Joins Magic City Jai-Alai

Dan Le Batard Show Joins Magic City Jai-Alai

SeventySix Capital Sports Advisory Brings Chris Cote to Battle Court

MIAMI, FL –  March 8, 2022 – SeventySix Capital Sports Advisory has recruited the Producer of The Dan Le Batard Show with Stugotz, Chris Cote, to be an owner of the Cesta Cyclones of Magic City Casino’s new Jai-Alai league Battle Court. 

Battle Court is a four-team league with tennis-like matches featuring singles and doubles Jai-Alai play. The Chula Chargers, Rebote Renegades, Wall Warriors and Cote’s Cesta Cyclones are competing in a nine-week season.

The SeventySix Capital Sports Advisory team, led by Dan Bravato and Chris Yortsos, has worked closely on many levels with Magic City, helping attract Cote and the Dan Le Batard Show to the league. SeventySix Capital Sports Advisory has executed media distribution deals that put the league in front of a potential audience of 115 million households across LaLiga Sports TV, Triple B Media, and FTF Sports, and also built a social presence on TikTok that has amassed over 80,000 followers, with multiple videos going viral. 

“SeventySix Capital Sports Advisory continues to be instrumental to the overall development of Magic City Jai-Alai,” stated Chris Yortsos of SeventySix Capital Sports Advisory. “Identifying additional strategic partners remains a core focus, and our team will continue to enhance media and content distribution, further Magic City’s social media reach, and lead sponsorship sales, global sports wagering opportunities, and league expansion.”

“While working in sports media is fulfilling, it doesn’t give me the chance to achieve my greatest goal — to be a champion. Taking over the Cesta Cyclones will give me that chance,” said Chris Cote. “Anything less than a title and helping this become the biggest sport in the world will be a complete failure by me.”

Listen: Chris Cote discusses owning the Cesta Cyclones on the The Dan Le Batard Show with Stugotz

About SeventySix Capital Sports Advisory

SeventySix Capital Sports Advisory is a consulting company focused on what's next in the world of sports and entertainment. Managed by SeventySix Capital and led by SeventySix Capital Managing Partner Wayne Kimmel, Dan Bravato and Chris Yortsos, SeventySix Capital Sports Advisory's unique approach combines an intimate knowledge of the investment industry with an experienced leadership team to guide its boots-on-the-ground efforts to help clients as they navigate the emerging areas of sports, including but not limited to sports betting, esports, digital and media, and social responsibility. For more information, please visit www.seventysixcapital.com/advisory.

About Magic City Casino’s Battle Court Jai-Alai League

Battle Court Jai-Alai League is run by Magic City’s Chief Operating Officer Scott Savin and has gained public recognition through renowned documentarian Billy Corben’s Magic City Hustle documentary. The teams in the league are named the Cesta Cyclones, Chula Chargers, Rebote Renegades, and Wall Warriors. BetRivers (Rush Street Interactive) is the sports betting partner of Magic City. All of the matches are played at the Magic City Fronton in Miami, Florida. For more information, please visit, www.magiccitycasino.com/jai_alai.

KYX World Raises New Round From SeventySix Capital and Industry Stalwarts

KYX World Raises New Round From SeventySix Capital and Industry Stalwarts

The new sneaker company is making waves by bringing rare sneakers to the masses

LOS ANGELES, CA | February 28, 2022 – Today KYX World, the revolutionary new sneaker company, announced its latest fundraising round led by SeventySix Capital, with further investment coming from other key strategic investors including NBA All-Star DeMar DeRozan and Super Bowl Champion Emmanuel Sanders.

The industry-first try-before-you-buy and sneaker rental service, KYX is changing the exclusive nature of the footwear industry. KYX offers a wide range of authentic, limited-edition sneakers that are universally desired or ‘hyped.’ With a first-of-a-kind subscription model, KYX democratizes access to rare sneakers with a new, more thoughtful way to consume. KYX subscribers receive fresh sneakers delivered right to their door, wear them freely and then choose to keep, buy, or swap them out for another pair.

“KYX is the place where people from all walks of life are coming for their favorite sneakers,” said CEO and co-founder Brian Mupo. “We are inclusive to all customers in a way the footwear industry does not currently reflect. Our goal is to change the way people interact with shoes, giving them more options with less commitment.”

The investment round is led by industry-leading sports tech venture capital company SeventySix Capital, with additional support from Rachel Zoe Ventures and Crush Ventures. KYX has also brought on NBA All-Star DeMar DeRozan, Super Bowl Champion/NFL Wide Receiver Emmanuel Sanders, Dash Radio founder DJ Skee along with BDG Founder/CEO Bryan Goldberg, Casper Co-Founder/CSO Neil Parikh, and NTWRK President Moksha Fitzgibbons.

“KYX seamlessly blends the rising trend of sneaker culture with access, technology, and the circular economy,” Chad Stender, Partner of SeventySix Capital and Board Member of KYX explained.  “KYX is well positioned to make a huge impact in the $25 billion sneaker industry.”

KYX offers 3 levels of access on its platform, from $59 to $299 per month. Offering over 300 styles ranging in price from $100 - $1,500 on the resale market, an inclusive array of both men’s and women’s sizing, and sneakers from Nike, New Balance, Yeezys and more—KYX is the new sneaker closet. KYX employs several of the foremost sneaker authenticators, sneaker cleaners, and sneakerhead buyers/sellers in the world to ensure all sneakers show up to your door in ‘near new’ appearance and condition after undergoing extensive cleaning, sanitization and sterilization utilizing Reshoevn8r products with their proprietary 10-step cleaning process. 

To sign up for a membership or learn more about the service, please visit www.kyx.world. (YES10 for 10% off)

About KYX World

KYX World, headquartered in Los Angeles, CA, is the premiere sneaker subscription experience, revolutionizing sneaker culture by providing all-inclusive access to a robust rotation of authentic, limited-release shoes. Founded by entrepreneurs, Brian Mupo and Steve Dorfman, KYX offers access to over 300 styles through one of three levels of membership. Subscribe to KYX and get fresh sneakers every month—wear them and then choose to keep them, buy them, or swap them out for your next pair. A Dedicated Digital Concierge, Sloan, is always available to answer any questions and keep you informed of the latest releases. KYX is the future of sneakers.

About SeventySix Capital

SeventySix Capital is a sports-focused venture capital company that has been building sports technology companies for over two decades and leverages that experience through its Sports Advisory consulting group. SeventySix Capital also has its Athlete Venture Group, which allows current and former players to invest, learn, and work directly with top sports startups and entrepreneurs.

Press assets can be downloaded here.

collectID Raises $3.5M Seed Funding Led by SeventySix Capital

collectID Raises $3.5M Seed Funding Led by SeventySix Capital

Patented technology connects physical and digital worlds

St. Gallen/Zürich, SWITZERLAND | February 24, 2022 – collectID, which is reimagining the customer experience by creating a gateway for physical products to the metaverse, has raised a $3.5 million seed funding round led by SeventySix Capital and Hellen’s Rock. collectID is working with top international sports teams like the Nashville Predators (NHL), Atlético Mineiro (reigning Brazilian soccer champions), Bayer Leverkusen and VfB Stuttgart (German Bundesliga) as well as leading luxury brands like Maison Mollerus.

collectID’s patented technology combines encrypted, smartphone-ready NFC tags with secure NFTs so customers can check the authenticity of a product with a simple smartphone tap, register ownership via the collectID app, safely resell their products, and enter the digital dimension of the brand. For the first time in history, brands and sports teams are able to earn money from secondary trading and receive detailed data and analytics about the owners of their products. Due to the immutability of the blockchain, the collectID ecosystem is tamper-proof and removes the financial incentives and scalability of selling counterfeit products. Video of how collectID works

“collectID’s technology will transform the global sports and luxury goods industry and secondary markets,“ collectID’s CEO and co-founder David Geisser commented. “The funding we’ve received will enable us to scale collectID’s SaaS solution and accelerate our growth with an initial focus on Europe and North America.”

The investment round was led by SeventySix Capital, a sports-focused venture capital company that invests in game-changing companies that are bringing streaming, augmented/virtual reality, NFTs, blockchain, Web3, metaverse and other disruptive technologies to the sports industry, and by Hellen’s Rock, the investment team of serial entrepreneur and Superbet founder, Sacha Dragic. Additional funding came from Sygnum, SBI Group as well as several other strategic investors.

“We are confident that new technologies such as blockchain, NFTs, and crypto will have an outsized impact on the sports industry,” stated Chad Stender, Partner at SeventySix Capital. “collectID’s technology creates an essential bridge between physical products and the digital world for sports teams and brands. collectID will also collaborate with our other portfolio companies to reimagine the consumer experience across sports.”

About collectID

collectID creates a gateway for physical products to the metaverse through a combination of blockchain and NFC technology to provide a unique and secure identity for each product. Customers are able to use collectID equipped products in the metaverse, while brands can now place content directly on their products and transform them into a communication and sales channel. collectID works with top international sports teams like the Nashville Predators (NHL), Atlético Mineiro (reigning Brazilian soccer champions), Bayer Leverkusen and VfB Stuttgart (German Bundesliga) as well as leading luxury brands like Maison Mollerus.

About SeventySix Capital

SeventySix Capital is a sports-focused venture capital company that has been building sports technology companies for over two decades and leverages that experience through its Sports Advisory consulting group. SeventySix Capital also has its Athlete Venture Group, which allows current and former players to invest, learn, and work directly with top sports startups and entrepreneurs.

Magic City Casino’s New Jai-Alai League “Battle Court” Launches with SeventySix Capital Sports Advisory

Magic City Casino’s New Jai-Alai League “Battle Court” Launches with SeventySix Capital Sports Advisory

New league built to capitalize on the rapid growth of sports betting

February 15, 2022 | Miami, FL Magic City Casino’s Battle Court Jai-Alai League has launched with operational support from SeventySix Capital Sports Advisory. Magic City has an exclusive sports betting partnership with Rush Street Interactive (BetRivers) to enable wagering in 7 states on 111 match dates. All of the matches will be streamed live on the BetRivers app.  

Jai-Alai, known as the ‘fastest ball sport’ with speeds exceeding 150 miles-per-hour, has been transformed through Magic City’s innovative take. Battle Court players play head-to-head, with scoring more similar to tennis. Matches are best-of-three sets, with sets played to six points. Bettors can wager on who will win a match, a set or even a point.

The SeventySix Capital Sports Advisory team worked closely on many levels with Magic City to build this league. They helped broker multi-year content distribution deals with FTF Sports and Triple B Media. These media networks will enable Battle Court to reach an audience of up to 115 million households. In addition, SeventySix Capital Sports Advisory developed a coordinated social media effort that resulted in a substantially increased following and engagement across new channels, including on TikTok, which saw 50,000 people tune in on opening day (February 14th 2022).

“The entire framework of a league in 2022 must be different than before,” SeventySix Capital Sports Advisory President Dan Bravato said. “Newer opportunities are being incorporated into league offerings, including streaming vs. linear distribution, betting operator integration, and influencer-led ownership groups. We are excited to help Magic City build this from the ground up and meet the sports industry where it is heading."

About Magic City Casino’s Battle Court Jai-Alai League

Battle Court Jai-Alai League is run by Magic City’s Chief Operating Officer Scott Savin and has gained public recognition through renowned documentarian Billy Corben’s Magic City Hustle documentary. The teams in the league are named the Cesta Cyclones, Chula Chargers, Rebote Renegades, and Wall Warriors. All of the matches are played at the Magic City Fronton in Miami, Florida. For more information, please visit, magiccitycasino.com/jai_alai.

About SeventySix Capital Sports Advisory

SeventySix Capital Sports Advisory is a consulting company focused on what's next in the world of sports and entertainment. Managed by SeventySix Capital and led by SeventySix Capital Managing Partner Wayne Kimmel, Dan Bravato and Chris Yortsos, SeventySix Capital Sports Advisory's unique approach combines an intimate knowledge of the investment industry with an experienced leadership team to guide its boots-on-the-ground efforts to help clients as they navigate the emerging areas of sports, including but not limited to sports betting, esports, digital and media, and social responsibility. For more information, please visit seventysixcapital.com/advisory.

C360 Technologies Raises Capital for Expansion

C360 Technologies Raises Capital for Expansion

SeventySix Capital’s immersive media portfolio company is ramping up

C360 Technologies, an immersive media creation engine that provides high fidelity streams from high profile locations to the most important broadcasters and leagues around the world, announced it raised capital from Cosm, a global experiential media and immersive technology company, and Blue Tree Allied Angels, Western Pennsylvania’s leading angel network. 

C360, a SeventySix Capital portfolio company, works with the top sports media, teams, leagues and tech companies such as Fox Sports, CBS Sports, ESPN, TNT, NASCAR, NFL, NHL, UFC, Google, and Intel. Additionally, they work with sports betting operators and data providers.

“We are excited about investing in the team at C360,” said Jeb Terry, President and CEO at Cosm. “They have great technology and vision. That’s what we look for when we partner with a company.”

“This is big news as we continue to raise capital and aggressively partner with major leagues, teams and broadcasters to activate our technology inside arenas and stadiums across North America,” said C360 Technologies CEO Howard Wright. “Needless to say our incredible new partner aligns with our vision, technology and our future.”

WATCH: Leveraging for the Power of Partnership | Featuring Jeb Terry | Icons and Insights.

About C360

C360 has pioneered original 360 technologies that deliver the highest quality non-stitched immersive video products, live output for broadcast and OTT platforms. C360's proprietary process and ultra high-quality output has earned relationships with Fox Sports, CBS Sports, ESPN, TNT, NASCAR, NFL, NHL, UFC, Google, Intel, among many others including sports betting operators and data providers. To learn more about C360, go to https://www.c360live.com/.

About SeventySix Capital 

SeventySix Capital is a venture capital company, led by Wayne Kimmel, Jon Powell and Chad Stender, that invests in game-changing sports betting, esports, and sports technology startups. SeventySix Capital’s existing portfolio companies are leaders in their respective industries: C360, Diamond Kinetics, Fortē, Lucra Sports, Maestro, Nerd Street, NFT PRO, Odds On Compliance, Play by Play, Quintar, ShotTracker, Swish Analytics, and U.S. Integrity. In 2021, SeventySix Capital sold three portfolio companies: VSiN, the sports betting media network (sold to DraftKings - Nasdaq: DKNG), Vigtory, a next generation sportsbook (sold to FuboTV - NYSE: FUBO), and Team Whistle, a sports and entertainment media company (sold to ELEVEN SPORTS). 

SeventySix Capital also has a Sports Advisory business and its Athlete Venture Group, which allows players to invest, learn, and work directly with top sports tech startups and entrepreneurs. Managing Partner Wayne Kimmel also hosts the SeventySix Capital Sports Leadership Show, a weekly podcast that features the sports industry’s top entrepreneurs, athletes, and thought leaders. In addition, SeventySix Capital has a strategic partnership with Rubicon Talent, a sports marketing and talent agency, and is a partner with the American Gaming Association to promote its #HaveAGamePlan responsible sports betting campaign. Visit https://www.seventysixcapital.com/ for more information.

About Cosm

Cosm is a global technology company that builds end-to-end solutions for immersive experiences. We provide a full stack experience solution including the physical design, engineering, and manufacturing; as well as the software, display engine, and content needs to deliver immersive experiences at scale. Our technology enables people to experience entertainment in a new way, across three primary markets: Sports and Entertainment, Science and Education, and Parks and Attractions. For more information, visit https://www.cosm.com.

About BlueTree Allied Angels

BlueTree Allied Angels, formed in 2003, is Western Pennsylvania’s leading angel network. BlueTree Allied Angels is a members-only group of accredited investors focused on funding promising start-up companies. BlueTree Allied Angels meets regularly to evaluate and consider private equity investments in early-stage, pre-institutional ventures in Western Pennsylvania and other high-tech regions where we co-invest with colleagues and other leading venture firms.

BlueTree Allied Angels’ mission is to provide investment opportunities where members can obtain outstanding financial  returns while mitigating investment risk. To learn more about BlueTree Allied Angels go to https://www.bluetreealliedangels.com/.

SeventySix Capital Invests in Odds On Compliance

Odds On Compliance Receives Strategic Investment from Group Led by SeventySix Capital

This Round of Funding Marks the Next Step in the Sports Betting Company’s Evolution to Leverage Technology and Industry Expertise to Deliver the Compliance of Tomorrow

Odds On Compliance, the industry-leading technology and consultancy firm specializing in sports betting, iGaming, and gambling regulatory compliance in the U.S. and abroad, announced today that it received strategic investments from a group led by SeventySix Capital. Tekkorp Capital also participated in the round, providing a new infusion of funding which will propel Odds On Compliance forward in the expansion of its business unit focused on data and technology. 

“This is another big step in the evolution of Odds On Compliance as a gaming compliance-focused technology company. These are intentional investments that bring the best of sports, technology, and data into our ecosystem. We are proud to partner with this diverse investment group as we continue to grow,” said Eric Frank, Founder & CEO of Odds On Compliance. 

SeventySix Capital is a leading sports-focused venture capital firm that invests in game-changing sports betting, esports, and sports technology companies. The investment in Odds On Compliance adds to SeventySix Capital’s growing portfolio of innovative companies that are transforming the sports industry.

“We are proud to lead this investment in Odds On Compliance,” said Wayne Kimmel, Managing Partner at SeventySix Capital. “The team, led by Eric Frank, exemplifies the types of entrepreneurs that SeventySix Capital invests in who are shaping the sports betting industry. Their experience, relationships, and knowledge of the gaming and compliance industry gives us complete confidence in their ability to build a market-leading company.”

Tekkorp Capital, who also invested in the round, will act as a strategic advisor to Odds On Compliance. “Tekkorp Capital funds those rare companies that truly innovate in the digital domain and Odds On Compliance, to my eye, is the absolute embodiment of such an enterprise,” commented Matt Davey, CEO of Tekkorp Capital. Tekkorp Capital funds private and public companies who innovate in the global digital gaming environment.  Tekkorp Capital’s Robin Chhabra, who will act as a strategic advisor to Odds On Compliance, added "Odds On Compliance has an exciting future ahead, and their application of tech, and AI in particular, to the compliance and regulation industry, is going to be game changing.”

Since its launch in March 2021, Odds On Compliance has expanded its staff and now offers its clients over 100 years of combined industry experience. The Odds On Compliance team has the depth of knowledge and expertise required to navigate the complex and ever-evolving iGaming and sports betting landscape, led by CEO and Founder Eric Frank, former global compliance chief for one of the world’s largest i-gaming companies, and Vice President of Technical Compliance and Audit Eric Weiss, the thirty-year veteran and previous Chief of Staff of the New Jersey Department of Gaming Enforcement.

About Odds On Compliance
Odds On Compliance is a technology and consultancy firm specializing in sports betting, iGaming and gambling compliance and regulatory frameworks, in the U.S. and abroad. Odds On Compliance provides a range of services that assist clients navigating, mastering, and staying up to date with the rapidly developing regulatory compliance framework at state and federal levels throughout the USA. For more information please go to OddsOnCompliance.com or the Odds On Compliance LinkedIn page.

About SeventySix Capital 

SeventySix Capital is a venture capital company, led by Wayne Kimmel, Jon Powell and Chad Stender, that invests in game-changing sports betting, esports, and sports technology startups. SeventySix Capital’s existing portfolio companies are leaders in their respective industries: C360, Diamond Kinetics, Fortē, Lucra Sports, Maestro, Nerd Street, NFTPro, Play by Play, Quintar, ShotTracker, Swish Analytics, and U.S. Integrity. In 2021, SeventySix Capital sold three portfolio companies: VSiN, the sports betting media network (sold to DraftKings - Nasdaq: DKNG), Vigtory, a next generation sportsbook (sold to FuboTV - NYSE: FUBO), and Team Whistle, a sports and entertainment media company (sold to ELEVEN SPORTS). 

SeventySix Capital also has a Sports Advisory business and its Athlete Venture Group, which allows players to invest, learn, and work directly with top sports tech startups and entrepreneurs. Managing Partner Wayne Kimmel also hosts the SeventySix Capital Leadership Series, a weekly podcast that features the sports industry’s top entrepreneurs, athletes, and thought leaders. In addition, SeventySix Capital has a strategic partnership with Rubicon Talent, a sports marketing and talent agency, and is a partner with the American Gaming Association to promote its #HaveAGamePlan responsible sports betting campaign.

SeventySix Capital Announces Three New Investments

Leading VC invests in Augmented Reality, NFTs, and Social Gaming Startups

CONSHOHOCKEN, PA (October 18, 2021) - Today, the leading sports industry venture capital company, SeventySix Capital announced three new investments into disruptive sports tech and sports betting companies: Quintar, NFTPro™, and Lucra Sports. 

“We are excited to unveil the first three innovative sports focused investments in our new fund,” stated Managing Partner, Wayne Kimmel. “The management teams of these companies exemplify the types of entrepreneurs who are transforming the sports industry.”

Quintar, led by Dr. S. “Jay” Jayaram and Dr. Jeff Jonas, who sold their last company to Intel in 2016, is an augmented reality (AR) based fan technology company enabling content owners, creators, and rights holders to build captivating live action AR experiences and revolutionize fan engagement. “The time is now to enhance sports viewership via AR,” said Quintar CEO Dr. Jayaram. “Having SeventySix Capital as an investor enables us to scale our business in unprecedented ways.” 

Cowles Company, Assam Ventures and Pragya Ventures participated in this funding round.

NFTPro™ is the #1 enterprise white label NFT solution for global brands. They provide turnkey solutions – creating, minting, marketing, and selling NFTs from a brand’s website and digital properties making the customer experience seamless and on-brand. Led by Founder and CEO Christian Ferri, NFTPro™ has high-profile clients such as Juventus, Atari and Lamborghini. “NFTPro™ provides the ultimate enterprise-grade, end-to-end, white-label NFT solution,” said Ferri. “We ensure that top brands maintain their identity and give them total control of their NFT and the experience.”

VU Venture Partners also invested in this round.

SeventySix Capital’s third investment of the new fund is Lucra Sports, a social-first sports gaming platform, currently available via the Apple App Store to adults in 37 states led by CEO Dylan Robbins, COO Hannah Farr, and CTO Ed Psyk. Lucra is a peer-to-peer, real money sports gaming platform that allows fans to compete with their friends. “Lucra is for anyone who has ever filled out a bracket, bought a Super Bowl square, or teased a friend about their favorite player or team,” Lucra CEO Robbins stated. “Everything is more fun with friends, and above all, Lucra provides a fun way to engage with friends around sports.” 

Lucra’s other investors include Raptor Group, Milwaukee Bucks owner & Avenue Capital founder Marc Lasry, Toy Ventures, and professional athletes including John Isner, top ATP tennis player, Julie Ertz, U.S. women’s national soccer team 2X World Cup Champion, and Zach Ertz, 3X Pro Bowl Tight End and Super Bowl Champion with the Philadelphia Eagles.

About SeventySix Capital

SeventySix Capital is a venture capital company, led by Wayne Kimmel, Jon Powell and Chad Stender, that invests in game-changing sports betting, esports, and sports technology startups. SeventySix Capital’s existing portfolio companies are leaders in their respective industries: C360, Diamond Kinetics, Fortē, Maestro, Nerd Street, Play by Play, ShotTracker, Swish Analytics, and U.S. Integrity. To date in 2021, SeventySix Capital has sold three portfolio companies: VSiN, the sports betting media network (sold to DraftKings - Nasdaq: DKNG), Vigtory, a next generation sportsbook (sold to FuboTV - NYSE: FUBO), and Team Whistle, a sports and entertainment media company (sold to ELEVEN SPORTS). 

SeventySix Capital also has a Sports Advisory business and its Athlete Venture Group, which allows players to invest, learn, and work directly with top sports tech startups and entrepreneurs. Managing Partner Wayne Kimmel also hosts the SeventySix Capital Leadership Series, a weekly podcast that features the sports industry’s top entrepreneurs, athletes, and thought leaders. In addition, SeventySix Capital has a strategic partnership with Rubicon Talent, a sports marketing and talent agency, and is a partner with the American Gaming Association to promote its #HaveAGamePlan responsible sports betting campaign.

SeventySix Capital Raises Second Sports Focused Venture Capital Fund

Investors include pro team owners, athletes, and the Commonwealth of Pennsylvania

Today, the sports industry leading venture capital company, SeventySix Capital, announced the initial closing of its second fund to invest in passionate entrepreneurs who are launching game-changing sports betting, esports and sports tech companies. 

SeventySix Capital, led by Wayne Kimmel, Jon Powell and Chad Stender, has reshaped the sports venture capital industry. To date in 2021, SeventySix Capital has sold three portfolio companies: VSiN, the sports betting media network led by Brian Musburger, Bill Adee and Brent Musburger (sold to DraftKings - Nasdaq: DKNG), Vigtory, a next generation sportsbook led by Sam Rattner and Scott Butera (sold to FuboTV - NYSE: FUBO), and Team Whistle, a sports and entertainment media company led by John West and Michael Cohen (sold to ELEVEN SPORTS). 

“This next fund is an important milestone as we continue building SeventySix Capital as the go-to investment company in the sports industry,” said Wayne Kimmel, SeventySix Capital Managing Partner. “We have proven that we have access to the deals and entrepreneurs seeking to transform the sports world and that we are able to help them build their businesses with our capital investment as well as our sports relationships, knowledge and expertise.”

SeventySix Capital added two additional professional sports team owners as investors and strategic partners in the new fund: Robert Nutting, Owner and Chairman of the board of the Pittsburgh Pirates of Major League Baseball and AMBSE Ventures, a subsidiary of AMB Sports + Entertainment, a portfolio company of Arthur M. Blank, Owner and Chairman of the Atlanta Falcons of the National Football League and Atlanta United FC of Major League Soccer. 

SeventySix Capital expanded its roster of athlete investors with the additions of Emmanuel Sanders, Super Bowl Champion and 2X Pro Bowl NFL Wide Receiver of the Buffalo Bills, Alejandro Bedoya, Captain of the Philadelphia Union, former U.S. National team player and SeventySix Capital Athlete Venture Group Co-Chair, and James Develin, 3X Super Bowl Champion and former Pro Bowl Running Back for the New England Patriots. Brian Westbrook, Philadelphia Eagles Hall of Fame Running Back and SeventySix Capital Athlete Venture Group Chair and DeMarco Murray, former NFL All-Pro Running Back and Coach at the University of Oklahoma are return investors along with the Commonwealth of Pennsylvania’s Ben Franklin Technology Development Authority and multiple family offices.

“I’m excited to officially join the already dynamic team at SeventySix Capital that I have gotten to know well over the last several years through my marketing agent, Dave Maryles (Partner at Rubicon Talent),” said Emmanuel Sanders. “Given my personal passion for esports, it’s great working with Nerd Street, their esports portfolio company. We share similar values and interests in entrepreneurship, the sports business, and overall the drive to work hard to achieve lofty goals.”

SeventySix Capital’s current portfolio companies are leaders in their respective industries: C360, Diamond Kinetics, Fortē, Maestro, Nerd Street, Play by Play, ShotTracker, Swish Analytics, and U.S. Integrity.

This new fund will invest in startup companies that are disrupting and innovating the sports industry through the use of analytics, data and technology. SeventySix Capital aims to capitalize on the growing legal sports betting industry in the United States. The American Gaming Association (AGA) confirmed that U.S. commercial gaming revenue for the first seven months of 2021 nearly matched the entirety of 2020 and is 17.4 percent ahead of the same period in 2019, with 26 states (and Washington D.C.) having launched regulated sports betting. DraftKings (NASDAQ: DKNG) believes the US online sports betting market could eventually be worth $22 billion, assuming 100 percent legalization. The fund will also make investments in companies seeking to transform the fast-growing esports and Gaming industry. Gaming analytics and market research firm Newzoo stated that close to one-third of the global population games and the U.S. Video Game industry in 2020 was larger than Music and Movies combined, according to The NPD Group.

SeventySix Capital Venture Partner and Advisory members include Tim Cabral, former CFO of the $46+ billion market cap company, Veeva Systems, Dan Mason, former CEO of CBS Radio and a National Radio Hall of Fame member, and Michael Schreiber, CEO of Playfly Sports, Co-Founder of SeventySix Capital Sports Advisory and a former executive at NBCUniversal, Comcast and Altice USA.

Steven M. Cohen from Morgan Lewis acted as SeventySix Capital’s fund formation legal counsel and Adam Berger from Duane Morris is the fund’s gaming counsel.

About SeventySix Capital
SeventySix Capital is a venture capital company that invests in game-changing sports betting, esports, and sports technology startups. SeventySix Capital also has a Sports Advisory business and its Athlete Venture Group, which allows players to invest, learn, and work directly with top sports tech startups and entrepreneurs. Managing Partner Wayne Kimmel also hosts the SeventySix Capital Leadership Series, a weekly podcast that features the sports industry’s top entrepreneurs, athletes, and thought leaders. In addition, SeventySix Capital has a strategic partnership with Rubicon Talent, a sports marketing and talent agency, and is a partner with the American Gaming Association to promote its #HaveAGamePlan responsible sports betting campaign, along with NASCAR, NHL, PGA Tour, UFC, DraftKings, FanDuel, Sinclair Broadcasting Group, Washington Football Team, and others.