Two sports executives are deepening their roots in the industry through the creation of an investment firm.
David Abrams and Arne Rees have co-founded Velocity Capital Management, a firm planning to invest up to $50 million in early-stage companies in the sports, media, and entertainment sectors with enterprise values of up to $2 billion.
- Abrams is an owner of the Premier League’s Crystal Palace and a former private equity partner of Philadelphia 76ers and New Jersey Devils owner Harris Blitzer Sports & Entertainment.
- Rees was previously the U.S. CEO of Sportradar and has spent time at ESPN and UEFA.
“For now we are focused primarily on growth-stage companies,” Abrams said. “These are companies where we will likely take a non-control investment, but want to play an active role as an advisor or on the board.”
Velocity has already closed on its first investment in family experience company Camp NYC.
Velocity has received capital from several investors including Delaware North, RWN Management, Remington Ellis, and Bolt Ventures, among others.
Delaware North has investments in more than 50 entertainment and sports venues, sports betting sites, and the Boston Bruins, while RWN Management is the family office of Apollo Global Management’s co-founder Marc Rowan. Abrams was previously a partner at Apollo.