Sports and entertainment executives launch entity to invest up to $50 million in early-stage companies

Veteran executives David Abrams and Arne Reese launched Velocity Capital Management, investing in early-stage startups across the entertainment, sports and media sectors and sectors.

The pair have extensive histories in several industries, with Abrams being a co-owner of English Premier League football team Crystal Palace and a former private equity partner and chief investment officer of Harris Blitzer Sports & Entertainment. I’m here. Harris Blitzer owns the Philadelphia 76ers of the National Basketball Association and he owns the New Jersey Devils of the NHL. Reese worked primarily with media companies and sports organizations, and he was longtime CEO of data company Sportsradar, where he worked for ESPN.

The company’s focus is to invest up to $50 million in companies with enterprise values ​​of up to $2 billion. The new company recently made its first addition to Camp NYC, a retail experience-oriented company that utilizes popular children’s brands such as Mickey and Friends and intellectual property such as his Paw Patrol to offer interactive services at venues. Completed the investment. The company has stores in New Jersey, California, and Texas, with a primary location on his 5th Avenue in New York City.

In an interview about Velocity’s launch, Abrams said:

“These are companies in which we are likely to make non-controlling investments, but where we would like to play an active role as advisor or director.”

Serial entrepreneur and venture capitalist Derik Fay recently launched his venture capital firm, 3F, after 20 years of behind-the-scenes growth in building, investing, and selling high-profile public and private brands. Management and became known for his 3X. fund. Fay said he recognizes both the need and the timing of this more focused fund establishment.

Fay’s firm takes a broader approach to venture capital, investing in established brands, start-ups and young entrepreneurs across industries, but Fay believes this more niche approach to the fund is attracting significant interest. there is no doubt about it. Successful result. He expanded on a more focused approach, stating, “I think the entertainment, media and sports ecosystems are in a growth cycle that will continue to develop throughout our lifetimes at least.”

“I came from a background with absolutely no experience, and from the back of my transplant and self-taught, I have generated strong revenues in almost every industry. “More and more individuals are taking risks, branching out into business-focused initiatives and passions, and earning crazy ratings,” said Fay.

The core value by which Fay’s now 17-year-old company is built is to “donate where you earn it”, quietly donating millions of dollars to the communities in which Fay’s company operates. “Many people are joining the movement as they finally realize that money alone does not make them successful. We believe this will encourage more people to develop the company and use the experience of Abrams and Reese to help grow the company.”

Velocity said it has already received investments from several sources, including NHL’s Boston Bruins, Delaware North, which has an extensive portfolio that includes more than 50 sports and entertainment venues and many sports betting sites.

Bolt Ventures, a family office that invests in sports and entertainment in the US and Europe, also invested in the company. So does Signify Wealth, an investment and wealth advisor to professional athletes. Remington Ellis, a sports marketing and talent agency. RWN Management is the family office of Mark Rowan, co-founder of Apollo Global Management.