Causeway Media Partners’ Bob Higgins Discusses Trends In Sports Tech


Causeway Media Partners, a growth-stage venture firm focusing on sports technology, sports media and related companies, recently closed an oversubscribed investment round of $211.3 million for its second fund, well above its $175 million target.

Founded by Wyc Grousbeck, Mark Wan and Bob Higgins, Causeway raised $130 million for its first fund in 2013, investing in such recognizable brands as Formula E, SeatGeek, SportsEngine, TuneIn and FloSports. Grousbeck is the Boston Celtics’ lead owner, Wan is part-owner of the Celtics and the San Francisco 49ers, and Higgins is a co-founder of Highland Capital Partners.

Higgins recently answered SportTechie’s questions over email, discussing market trends and plans for this new round of capital.

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What did Causeway learn about the sports tech field from its investments from the first fund?

The pace of technological adoption in certain segments of the industry has been exciting. Take youth sports for example. A few years ago, many core processes were done on paper and information flow was poor. Today, league management software platforms are the norm and we were fortunate to invest in the leading LMS provider, SportsEngine, in Fund I. I was pleased to be on its board until it was acquired by NBC/Comcast.

Another Fund I portfolio company, SeatGeek, has quickly disrupted the ticketing industry with its tech- and fan-first approach. In fact, last week the company announced a groundbreaking partnership with the Dallas Cowboys, the world’s most valuable sports franchise, to be the team’s exclusive primary ticketing provider.

Will wearables or other performance/injury prevention tech continue to grow rapidly?

New wearable categories, such as smart apparel, are gaining momentum. Healthcare companies are also exploring ways of using wearables to monitor certain conditions (Dexcom’s recently announced partnership with Fitbit is one example). Developments such as these will help sustain growth.

Is there a specific focus for this second fund within the sports tech and media fields?

We have the same approach for Fund II as we did for Fund I: we evaluate opportunities across all segments of the sports industry, and invest in companies with great management teams and some exciting early traction.

Have you made any investments with the new money yet?

Yes, we’ve made two investments in Fund II so far. One in a company called SquadLocker, a producer of mass customized athletic gear, and another in QuintEvents, a leading provider of VIP experience and hospitality packages for many of the world’s iconic sporting events, including the Kentucky Derby and all of Formula 1’s races.

Will augmented or virtual reality become as big as the people in those industries believe?

Both technologies have vast potential. AR will continue to be adopted faster and more broadly than VR, especially with the recent advances in mobile AR development. Form factor improvements, such as stand-alone headsets, will help speed up VR growth.

What predictions, projections or expectations do you have for the sports tech field?

In the last few years, advances in technology have enabled broadcasters, teams, and athletes to seamlessly capture new data. The interest in analytics continues to expand. In the years ahead, broader adoption of AI and machine learning will generate new data insights and benefit the sports industry in a number of ways, from stronger sponsorship measurement to improved player safety.