Kimmel named one of the Dealmakers of the Year

Kimmel named one of the Dealmakers of the Year

Wayne Kimmel, Managing Partner, SeventySix Capital

Wayne Kimmel, the astute Managing Partner at SeventySix Capital, is a visionary force in the world of venture capital. At SeventySix Capital, they specialize in backing passionate, intelligent, and congenial entrepreneurs who are pioneering game-changing startups in the realms of sports betting, esports, and sports tech. Wayne's track record shines with recent sports industry successes, including the sale of VSiN - The Sports Betting Media Network to DraftKings, Vigtory to FuboTV, and C360 to Cosm. His other notable triumphs include investments in companies such as SeamlessWeb (now GrubHub), Take Care Health Systems (now Walgreens healthcare clinics), and NutriSystem. Wayne's prowess extends far beyond, having orchestrated successful deals with industry giants such as IBM, Intel, and Yahoo.

The 2023 Smart Business Network Philadelphia Dealmaker Awards have recognized exceptional individuals who are shaping the landscape of business and innovation in the City of Brotherly Love. These visionary leaders span various industries, from technology and agriculture to venture capital and infrastructure. Their achievements, acquisitions, and investments are not just milestones but markers of progress and transformative impact.

SeventySix Capital Sports Advisory featured by Sports Business Journal

SeventySix Capital Sports Advisory featured by Sports Business Journal

Finance: Investment firms launch growth advisories to deepen client network

Earlier this month, SeventySix Capital managing partner Wayne Kimmel was in Pittsburgh to catch a ballgame alongside Pirates owner Bob Nutting and team president Travis Williams. Nutting is an investor in SeventySix’s most recent fund and has, through his TNC Ventures, invested alongside the Philadelphia-based VC firm in swing-tracking startup Diamond Kinetics. Yet as the group watched the Bucs take on the Atlanta Braves, the conversation quickly turned not to matters of investment, but rather to how SeventySix might be able to consult with the Pittsburgh Knights esports organization co-owned by Nutting.

Those sorts of conversations have become increasingly commonplace for Kimmel since 2020, when SeventySix brought on Pitch 15 Sports Group co-founders Dan Bravato and Chris Yortsos to launch an advisory arm alongside its venture investing practice.

“We just get so, so many inbound opportunities, and if they didn’t fit into the venture bucket where we’re investing today, it was like let’s help out a friend or in some cases make a friend by making a connection,” said Kimmel of the inspiration for establishing an in-house solution. “It’s so exciting to just have really smart, experienced sports professionals on the overall team so that we can help more people.”

Bravato, who previously worked at Van Wagner, NASCAR, Fathead and City Football Group, now serves as SeventySix Sports Advisory’s president. He said the advisory practice has over 50 clients, including the Edmonton Oilers, eMLS and Playfly Sports, and that there have been tremendous benefits from having access to the investment firm’s network as well as its clout, which can be a key differentiator in pitch meetings.

While sports advisory is a crowded space, the nascent model of bolting such a practice onto an investment firm provides synergies for both sides of the relationship. For one, investment firms are able to monetize relationships with companies that might not be an exact fit for their portfolios.

“One of the areas where we’ve seen a ton of growth generally in the sports industry is in nascent league creation,” said Bravato. “Those are great examples where people are coming and saying, ‘We need $50 million to launch this league’ or ‘We need $20 million to launch this league,’ which really isn’t our sweet spot as a pre-seed and seed investor. So as a byproduct of that, those are introductions that are coming [the advisory’s] way.” The firm’s advisory practice has worked with the Professional Darts Corporation, Lights Out Xtreme Fighting and the World Jai-Alai League.

And in terms of general business operations, the consultancies are low-risk, cash-flowing verticals that provide a complementary balance to the capital-intensive private equity side that’s in the business of tying up cash for years at a time.

Long-term, Kimmel anticipates that the advisory work of today will also help pave the road to a far more robust investment firm of the future. “What it allows us to do is really build out the overall expertise of SeventySix Capital so that, someday in the future, we are making larger investments, we are investing in teams, we are investing in leagues, we are investing in later-stage companies,” Kimmel said. “And that’s really enabling us to do more than just network. Now we’re actually working together as business partners, and the opportunities are coming in hot and heavy.”

Chris Smith writes a monthly column on finance news and trends. He can be reached at crsmith@sportsbusinessjournal.com.

Wayne Kimmel on 2022 Sports Business Journal SportsTech Power Player List

Power Players:

Wayne Kimmel

Managing Partner, SeventySix Capital

Kimmel and his venture capital firm SeventySix Capital invest in sports tech and athletes, not necessarily in that order. Kimmel is the rare entrepreneur whose portfolio includes cutting-edge companies such as C360 (immersive video), Swish Analytics (sports betting tech) and Quintar (AR fan engagement), plus human beings. He created an offshoot of his firm called SeventySix Capital Athlete Venture Group that teaches athletes how to be investors — a VC roster that now includes MLS star Alejandro Bedoya and retired NFL receiver Emmanuel Sanders. “I invest in people,” Kimmel said, meaning people who run companies or run on a field.

Chickie’s & Pete’s Announces Partnership With SeventySix Capital Sports Advisory

CHICKIE’S & PETE’S ANNOUNCES PARTNERSHIP WITH
SEVENTYSIX CAPITAL SPORTS ADVISORY

SeventySix Capital Sports Advisory’s Strategic Advisor John Page will support Chickie’s & Pete’s national arena and stadium expansion

October 20, 2022 | Philadelphia, PA | Today, Chickie’s & Pete’s, the rapidly-growing restaurant and sports bar, announced a partnership with SeventySix Capital Sports Advisory to support their nationwide growth strategy into more stadiums and arenas. 

Chickie’s & Pete’s specialty, world-famous Crabfries® have jolted in popularity and is a fan favorite in their restaurants, stadiums and arenas in Philadelphia, Atlantic City, Las Vegas, Minneapolis, Kansas City and more. 

SeventySix Capital Sports Advisory strategic advisor John Page will work closely with Chickie’s & Pete’s to identify key markets to help Chickie’s & Pete’s growth. Page is a sports business industry veteran and was the President of Spectra Venue Management and President of the Wells Fargo Center complex in Philadelphia, PA.

“We are thrilled to partner with SeventySix Capital to help us expand the Chickie’s and Pete’s brand,” Pete Ciarrocchi, Chairman and CEO of Chickie’s & Pete’s, commented, “I’ve known Wayne Kimmel, Jon Powell and John Page for many years and think that their knowledge and experience in the sports industry can help us achieve our goals.”

“Chickie’s and Pete’s is exactly the kind of brand that we look to work with,” stated Dan Bravato, President of SeventySix Capital Sports Advisory, “They have tremendous fan loyalty and John Page and our team look forward to introducing the rest of the country to their Crabfries® and much more!”

SeventySix Capital Strategic Advisor John Page

About SeventySix Capital

SeventySix Capital is a venture capital company investing in game-changing sports betting, esports, and sports technology companies. Through its Sports Advisory consulting group, SeventySix Capital leverages over two decades of experience investing in the sports industry, as well as its comprehensive network of industry leaders and experts, to steer clients to success in some of sports’ fastest-growing areas while propelling the latest breakthroughs in sports, technology, and entertainment to the forefront of the industry. SeventySix Capital Sports Advisory is led by Dan Bravato, Chris Yortsos, and Wayne Kimmel. Learn more at www.seventysixcapital.com.

About Chickie’s & Pete’s

Chickie's & Pete's is a Philadelphia-area based crab house and sports bar with full-service locations primarily across Pennsylvania and New Jersey, and a brand-new location in Las Vegas. Founded in 1977 by Peter and Henrietta "Chickie" Ciarrocchi, Chickie's & Pete's started as a single location in Philadelphia and has since grown to become one of the most recognizable brands in the region. Their famous, one-of-a-kind Crabfries® can also be found at concession locations in stadiums, arenas, boardwalks, and amusement parks across the nation. The company combines family-based values with a love of all things sports in each of its locations. Learn more at www.chickiesandpetes.com.

There is a dynamic convergence of the sports, tech, and gaming industries, says Wayne Kimmel

From the Desk of…Wayne Kimmel, Managing Partner, SeventySix Capital

There is a dynamic convergence of the sports, tech, and gaming industries happening right now. Entrepreneurs backed by investors, like my team and I at SeventySix Capital, are transforming the world of sports betting and gaming.

The use of cutting-edge technology has disrupted other asset classes such as finance and health care and has now made its way into sports betting and gaming. Whether it’s data, analytics, machine learning, augmented reality, or Web3, entrepreneurs are reimagining what sports betting and gaming can be. We have only begun to scratch the surface of what is to come.

Major technology companies like Amazon, Apple, Microsoft, Meta (Facebook), Netflix, and Google (YouTube) are starting to make their moves in sports, streaming, and rights deals. We must keep our eyes on this.

Also, the changes in amateur and collegiate sports is another area to watch. Name, image, and likeness (NIL), sports betting partnerships with universities, and the money that is wagered on these games is creating seismic changes to the collegiate sports industry

We have seen traditional sports media companies like ESPN, NBC, and CBS do a 180 when it comes to talking about odds on their shows and during the coverage of games. Legendary sportscasters like Brent Musburger (founder of VSiN - The Sports Betting Network that was sold to DraftKings in 2021) and Al Michaels (now the play-by-play announcer for Amazon's Thursday Night Football) no longer have to make subtle sports betting references. The immediate effect of sports betting can be seen across the NFL’s recent media and data deals that were $113 billion and $1 billion, respectively.

These developments are game-changing and underline why SeventySix Capital is investing in this asset class.

We need to continue to recruit the most talented people in the world to join the industry and there is no better place to do it than at G2E 2022 in Las Vegas from October 10-13. As a member of the G2E Conference Advisory Board, I look forward to seeing all of you there. Be sure to invite your friends and business colleagues. G2E is the place to discover, connect, and explore the future of sports betting and gaming!

Register today to attend G2E 2022, taking place October 10-13 (Education: October 10-13 | Expo Hall: October 11-13) at The Venetian Expo in Las Vegas. 

SeventySix Capital Invests in ASENSEI

SeventySix Capital Invests in Fitness Tech Company ASENSEI

ASENSEI.AI is the easiest way to add form-tracking and personalization to Connected Fitness Products

Conshohocken, PA | July 20th 2022 | SeventySix Capital invested in award-winning fitness technology company, ASENSEI. Powered by 3D computer vision or connected apparel, ASENSEI has unlocked how human movement is observed, understood, coached, and corrected, so that digital fitness apps and connected fitness products can deliver the next generation of personalized experiences to their customers, powered by form-tracking. 

ASENSEI offers a cross-platform software development kit - ASENSEI.AI -  that adds motion capture to existing products with only a few lines of code. A patented approach to understanding posture and movement allows ASENSEI to add new exercises and movements in a matter of hours. For connected fitness brands including Reform RX, Speede, MOVR and CLMBR, ASENSEI’s solution brings new levels of personalization and engagement to products, designed to acquire, engage and retain customers through deep personalization that meets individuals where they are in their practice.

ASENSEI is led by Co-founder and CEO Steven Webster, who sold his first company to Adobe, before working at Microsoft alongside the Microsoft Kinect and XBox Fitness teams. Co-founder and Chief Product Officer Ross Arnott served as Director of Engineering at Cirrus Logic, designing and putting chips in products for companies including Apple, Samsung and Microsoft. Meanwhile, Co-founder and Chief Technology Officer Bill Burgar took his speech recognition company public on the London Markets, prior to leading the design and development of the movement recognition platform underpinning ASENSEI.

ASENSEI has a partnership with FORTË, a SeventySix Capital portfolio company, that enables people to virtually access live and on-demand, cost-effective, premier fitness content anytime, anywhere. 

“We were connected to SeventySix Capital by Lauren Foundos, CEO of FORTË, during our integration process with them,” stated ASENSEI CEO Steven Webster. “She shared how helpful SeventySix Capital’s team and relationships in the sports industry have been in building her company, and we are confident that they can do the same for us as we look to supercharge ASENSEI’s growth.”

“We believe that ASENSEI will transform the fitness industry as a must-have in every digital fitness app and connected fitness product,” commented Chad Stender, Partner at SeventySix Capital. “Our team is looking forward to working with them as they scale their business.”

About ASENSEI

ASENSEI is the easiest way to add form-tracking experiences to a Connected Fitness product. ASENSEI provides a cross-platform software development kit that allows developers to add form-tracking and coaching to their products in under an hour, removing the expense of a months-long process endured by companies who try to build rather than buy a form-tracking solution. ASENSEI provides an ever growing technique library of exercises in strength, mobility, yoga, Pilates, boxing, TRX and more. ASENSEI provides blueprint experiences that accelerate time to market for form-tracking powered experiences including movement screens, new customer onboarding, instructional learning, real-time coaching cues, post workout analysis, room-scale tracking and leaderboards and skill-based learning paths. To learn more about ASENSEI, visit www.asensei.ai. 

About SeventySix Capital

SeventySix Capital is a sports-focused venture capital company that has been building sports technology companies for over two decades and leverages that experience through its Sports Advisory consulting group. SeventySix Capital also has its Athlete Venture Group, which allows current and former players to invest, learn, and work directly with top sports startups and entrepreneurs. To learn more about SeventySix Capital, visit www.seventysixcapital.com.

Wayne Kimmel to Keynote Maryland Sports Business Conference

Wayne Kimmel to Keynote Maryland Sports Business Conference

Kimmel will discuss investing in the entrepreneurs who are shaping the future of sports

College Park, MD - April 29, 2022 - The University of Maryland Sports Business Society announced today that Wayne Kimmel, Managing Partner of SeventySix Capital, will be the keynote speaker at the 2022 Maryland Sports Business Conference on May 6th. 

Kimmel, a venture capitalist, entrepreneur, and Maryland alum (‘92) will be speaking on his investment thesis of investing in smart and nice entrepreneurs who are changing the sports industry. Kimmel’s venture capital fund, SeventySix Capital, is the leading early-stage investor in sports betting, esports and sports tech companies. 

Kimmel is also the author of “Six Degrees of Wayne Kimmel” and he will share his practical secrets to success while providing intimate glimpses behind the scenes of nail-biting, high-stakes sports business deals. He will speak about why he believes it is important to think like an entrepreneur, become a master networker and always help others. 

The 2022 Maryland Sports Business Conference presented by SeventySix Capital will be the second installment of the annual event, and the inaugural in-person event, after last year’s virtual conference. The conference will take place on May 6th and be hosted in the Jones-Hill House, the new home of the University of Maryland Football team.

The conference’s roster of speakers and guests is headlined by Sean Eggert (Under Armour’s SVP Global Marketing) and includes Diahann Billings-Burford (CEO, RISE), Kevin Blackistone (ESPN Around the Horn, Philip Merrill College of Journalism Professor), Rainelle Jones (Maryland Volleyball), Chad Steele (SVP of Communications, Baltimore Ravens), Heather Dinich (ESPN), Lauren Foundos (CEO, FORTË), Peter Raskin (Partner, Rubicon Talent), John Fazio (CEO, Nerd Street Gamers), Jack Krabbe (General Manager, Maryland Sports Properties) and Jon Schwartz (SVP Communications, Big Ten Conference). The conference will also feature networking opportunities, breakout sessions, and more. 

For the second consecutive year, the Maryland Sports Business Conference will also be working with Special Olympics Maryland to raise funds and awareness to support its athletes. 

Tickets are available for purchase online. More information about the event can be found on the conference’s Instagram. 

About Maryland Sports Business Conference

The Maryland Sports Business Conference was created in 2020 by undergraduate students in the Sports Business Society at the University of Maryland. They aim to increase awareness around sports business and educate students about the vast possibilities within this career field. They strive to foster a diverse and inclusive sports community, and connect their students with sports business professionals and organizations. The 2022 Maryland Sports Business Conference presented by SeventySix Capital will empower students to be innovative, be ambitious, and be fearless.

About Maryland Sports Business Conference’s Student Leaders

The Maryland Sports Business Conference is entirely student-led and organized by undergraduate students representing diverse majors, backgrounds, and interests. Led by Bradley Polkowitz (‘23, OMBA & Marketing), Rachel Levitt (‘22, Marketing), Joshua Liu (‘24, Finance & Marketing), and Abby Horick (‘23, Marketing), the team of twelve exceptional students are committed to providing a one-of-a-kind conference experience that will empower students to be innovative, be ambitious, and be fearless. 

About SeventySix Capital

SeventySix Capital is a sports-focused venture capital company that has been building sports technology companies for over two decades and leverages that experience through its Sports Advisory consulting group. SeventySix Capital also has its Athlete Venture Group, which allows current and former players to invest, learn, and work directly with top sports startups and entrepreneurs. To learn more about SeventySix Capital, visit seventysixcapital.com.

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