Two venture capital firms are buying a majority stake in the NFL’s top talent agency.
Mastry Ventures and General Catalyst have acquired a stake in Athletes First, an agency that has represented eight Super Bowl MVPs and the most first-round NFL Draft picks for three consecutive years.
The pair have bought out Dentsu, which purchased one-third of the agency in 2015 at a $50 million valuation. Athletes First founder Brian Murphy will remain CEO.
With more than 450 clients, Athletes First’s roster includes Aaron Rodgers, Dak Prescott, Matt LaFleur, and Ryan Poles.
It has negotiated more than $11 billion in contracts since its founding in 2001, including Deshaun Watson’s $230 million, five-year pact — the richest guaranteed-money deal in NFL history.
Mastry Ventures and General Catalyst plan to build new platforms for clients to “unlock new opportunities, build enterprises, and establish greater ownership across various industries.”
Mastry Ventures’ portfolio includes Dapper Labs, GOAT, Zoom, and Uber, among others. General Catalyst “has helped support the growth” of companies including Airbnb, Hubspot, and Snap.
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