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Tuesday, July 16, 2024

Aaron Rodgers’ Firm Raises $150M From Josh Allen, Celebrities

  • Rodgers co-founded RX3 in 2018, and the firm's investments include Hydrow, Therabody, and Manscaped.
  • Investors in RX3's second fund include Josh Allen, Jared Goff, Michael Phelps, and Vanessa Hudgens.
Rodgers' RX3 Growth Partner firm launched in 2018.
Brad Penner-USA TODAY Sports

RX3 Growth Partners, an investment firm co-founded by New York Jets quarterback Aaron Rodgers, has raised nearly $150 million from several athletes and celebrities to close its second fund.

Fellow NFL quarterbacks Josh Allen and Jared Goff invested in the fund alongside retired swimmer Michael Phelps, as well as celebrities Miles Teller, Vanessa Hudgens, Machine Gun Kelly, Christina Aguilera, Marshmello, and Thomas Rhett.

Launched in 2018, RX3’s investment portfolio includes connected rowing machine Hydrow, massage device company Therabody, golf simulator brand Full Swing, CorePower Yoga, Manscaped, Hims, and Super Coffee. 

The firm’s new $150 million fund will focus its investments on consumer-facing brands. Comedian Kevin Hart’s Hartbeat Ventures also serves as an advisor to RX3, whose co-founders also include Nate Raabe and Byron Roth.

Raabe told Bloomberg that the California-based firm will consider opening a New York office as it expands, especially with Rodgers now playing for the Jets. The Jets’ season-ticket and suite sales have jumped 400% after the four-time MVP was traded from Green Bay to New York.

Full Swing, one of RX3’s portfolio companies, was acquired by Bruin Capital in 2021 for a reported $160 million. RX3 also contributed to Hydrow’s $55 million funding round last year, which brought the rowing company’s total funding to $255 million.

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