Where we invest, and what we mean by each of these words.
Six areas that share one underlying claim: the commercial relationship between a rights-holder and a fan is being rebuilt in software, and the systems doing it today were designed for a different decade.
-
Seed & Series A
Priced rounds and post-money SAFEs where a first institutional cheque buys a meaningful minority position.
-
Verifiable Digital Ticketing
Cryptographically verifiable admission credentials, transfer policy engines and rights-holder-controlled resale.
-
Athlete & Brand Ventures
Companies built around athlete equity, name and likeness rights, and the operating businesses behind them.
-
Fan Engagement Platforms
Identity, loyalty and second-screen products that turn anonymous attendance into a consented first-party record.
-
Portfolio Operations
The support practice: hiring, commercial introductions, pricing work and readiness for the next round.
-
Exits & Secondaries
Fund lifecycle work: follow-on reserves, structured secondaries, strategic sale processes and distributions.
How the six fit together
The first four areas are where new capital goes. The last two describe what happens to it afterwards: portfolio operations is the work we do while a company is growing, and exits and secondaries is the work we do to return capital to limited partners.
We do not run these as separate pots with separate allocations. A fund is constructed around a concentrated set of positions, with reserves held centrally and deployed where the evidence is strongest rather than spread evenly to keep every company alive. That means some companies in the portfolio will not receive follow-on capital from us, and we would rather a founder hear that early than discover it during a bridge.
Nor are the boundaries rigid. A verifiable ticketing company usually becomes a fan data company; an athlete venture frequently becomes a commerce business with a licensing layer. What matters at the point of investment is that we can name the buyer, price the transaction and describe how the second customer is cheaper to win than the first.
Not sure which of these you are?
Most companies sit across two of them. Describe what you have built and who pays for it, and we will tell you which partner should read it.