Philadelphia-based sports and technology venture capital firm SeventySix Capital announced its entry into the sports agency business on Tuesday, strategically partnering with newly-formed Rubicon Talent (Rubicon). Financial terms of the deal were not disclosed.
SeventySix Capital, which is led by entrepreneurs Wayne Kimmel and Jon Powell and has invested in the likes of digital sports media company Whistle Sports, will consult and advise Rubicon’s roster of clients on new equity partnerships and business opportunities outside of traditional marketing and endorsement deals.
“At SeventySix Capital, we are investors in the consumer tech, sports, and health and wellness space with current portfolio companies like Whistle Sports, Indiegogo and StartUp Health,” Kimmel said in a statement. “Rubicon Talent’s relationships, expertise and access allows us to further dive into the sports and entertainment worlds. This is a win-win relationship — the possibilities are endless with our shared goals and vision.”
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Added Peter Raskin, Founder of Rubicon, in a statement: “We are committed to helping our clients throughout their careers and beyond. As the sports and entertainment business continues to evolve, our clients are continually seeking more strategic, diversified opportunities. Partnering with SeventySix Capital is a way for us to set ourselves apart from the traditional sports marketing firms. Wayne and his team are best in class and enable us to provide our clients with a new expertise, ensuring they are well-positioned to explore entrepreneurial and equity based opportunities.”
Raskin is joined by a group of sports marketers including Brandon Swibel, Dave Maryles and Jonathan Salant, all of whom were formerly together at TLA Worldwide, a global sports marketing agency. Rubicon represents active and former NFL and NBA players such as Tennessee Titans running back DeMarco Murray, New England Patriots tight end Martellus Bennett and Denver Broncos wide receiver Emmanuel Sanders along with Olympians like hurdler/bobsledder Lolo Jones and volleyball player Kerri Walsh. Rubicon will also consult with various brands and agencies.