VC News | More VC firms follow Veteran Ventures Capital to the Nation’s Capital
New $75 million fund being launched to invest in early stage businesses that support athletes.
From Washington, DC:
Three venture capital firms, including two from Silicon Valley, have recently opened offices in the Nation’s Capital or moved their headquarters to the city.
Veteran Ventures Capital started the trend when it announced that the firm was relocating its corporate headquarters from Knoxville to Tysons, VA. “Virginia offers a vibrant ecosystem for technology and entrepreneurship, with access to top-tier veteran talent, proximity to government agencies and tech transfer initiatives, and a dynamic business environment, which align perfectly with our vision for the future,” said Virginia-based General Partner Dr. Josh Weed.
Soon there after, Andreessen Horowitz, Silicon Valley’s largest and best-known venture capital firm, announced that it was opening a 12,000 square foot office in the DC area. Now comes word that The Westly Group will expand to the Nation’s Capital to be closer to both the DC area start-ups and the policymakers regulating industries in which it invests. Best known as an early investor in Tesla, the company announced earlier in July that it had closed a $100 million fund to invest in early stage companies in the climate, energy, and industrial sectors.
Another from Washington, DC:
Sportico reports that OneTeam Partners, the commercial venture created in 2019 by the National Football League Players Association and the Major League Baseball Players Association, is planning to launch a $75 million fund to invest in early stage businesses that support athletes. According to this article, the fund, called OneTeam Ventures, will target a portfolio of about 12 companies, with an average investment of about $5 million. It will collect a 2.5 percent annual management fee on capital, plus a 20 percent performance fee on returns over a designated benchmark.
OneTeam plans to deploy the money in ways that further its underlying mission—to help athletes maximize the value of their intellectual property. It currently helps negotiate group licensing deals for individual unions, facilitates collaboration between athletes across multiple sports, and handles everything from sponsorship and marketing to media and investing.
From London, England:
LTV Capital, a venture capital (VC) fund-of-funds investing in best-in-class, capital-efficient, diverse emerging fund managers, has published an exclusive report with data from 800+ global emerging fund managers across the venture capital ecosystem.
The report, titled “Venturing Forward: Mapping the Global Emerging Manager VC Landscape,” provides crucial insights for industry stakeholders, emphasizing the pivotal role emerging managers will play in shaping the new venture landscape. The report also uncovers the challenge of accessibility for both Limited Partners and General Partners across European, U.S. and emerging markets like the Middle East and North Africa, Latin America, and Southeast Asia, driving industry awareness during today’s venture capital reset.
The full report is located on LTV Capital’s website here.
Like what you've read?
Forward to a friend!