TLDR:
- OneTeam Partners plans to launch a US$75 million venture fund to invest in startups that support athletes.
- The agency, co-founded by NFLPA and MLBPA in 2019, aims to invest US$5 million each in about 12 companies.
US-based commercial rights agency OneTeam Partners is planning to launch a US$75 million fund to invest in startups that support athletes. The fund, called OneTeam Ventures, will invest approximately US$5 million in each of about 12 companies. OneTeam is currently searching for a partner to co-own the venture fund. The agency, formed as a joint venture between the NFLPA and MLBPA in 2019, represents the commercial interests of over 20,000 athletes and recently launched an international subsidiary to expand globally.
The agency hopes to leverage its connections to famous celebrities and deal flow access to drive growth for the startups it chooses to invest in. Its investment portfolio currently includes about ten deals, with agreements valued at over US$100 million. The returns from these investments are intended to strengthen athletes’ intellectual property value. Former Netflix executive Bruce Daitch will be joining OneTeam’s board of directors.
