SeventySix Capital adds depth at running back - Technical.ly Philly

Business

Dec. 13, 2017 8:24 am

SeventySix Capital adds depth at running back

Former Eagles RB DeMarco Murray and Comcast's David L. Cohen join the sports-focused venture firm as it closes its latest fund.
Wayne Kimmel (left), Ryan Howard and Jon Powell will lead the investments from the firm.

Wayne Kimmel (left), Ryan Howard and Jon Powell will lead the investments from the firm.

(Courtesy photo)

SeventySix Capital had previously found its sweet spot in verticals like health, wellness and consumer-facing tech (with portfolio companies like Seamless and Nutrisystem,) but now the Conshohocken-based venture capital firm is all about sports.

The company, which recently added former Phillies slugger Ryan Howard as partner, announced the initial closing on a $10 million fund that will focus on sports technology startups, as well as health, wellness and the “future of retail.”

Backers of the fund include Tennessee Titans running back (and former Eagle) DeMarco Murray, tech investor Michael Rubin and Comcast exec David L. Cohen. There’s also funding from the Commonwealth of Pennsylvania through the Ben Franklin Technology Development Authority.

Per an SEC filing introduced in October, the total offering of the fund is $40 million. The venture firm’s average bite-size is in the $250,000–$1-million range.

From the fund, the firm has already backed two startups: Israel-based IoT company Kwik and more recently in N3rd Street Gamers, a Northern Liberties-based esports startup.

Managing Partner Wayne Kimmel, said the company was excited about the closing, citing the firm’s potential to provide founders with “unique relationships, knowledge and expertise.”

The company’s initial closing of the fund comes at the end of a tepid year for venture capital in Philly: a PACT report measured a significant lull in both number of deals and volume during 2017.

Advertisement

Companies: SeventySix Capital
-30-
BECOME A CONTRIBUTOR TO THE JOURNALISM FUND TO COMMENT
Already a contributor? Sign in here
Connect with companies from the Technical.ly community
New call-to-action

Advertisement

You can make a literal elevator pitch to Robin Hood Ventures investors

What’s slowing a wider adoption of impact investing?

Data analytics startup Crossbeam just raised a $12.5M series A

SPONSORED

Philly

7 biz resources we learned about at Super Meetup Philly 2019

Philadelphia, PA - Center City

Odessa

Sr. Project Manager

Apply Now

Philadelphia

Vistar Media

Sr. Software Engineer

Apply Now

Philadelphia

Vistar Media

Front End Engineer

Apply Now

Haircare startup NaturAll Club is getting ‘a blank canvas’ in Bok building

Why this Radnor-based VC firm thinks impact investing is on the rise

Philly startups need more early-stage investments to compete

SPONSORED

Philly

Paid family leave adds to the perks at Chariot Solutions

Philadelphia, Pa

Inspire

Event Sales Ambassador

Apply Now

Philadelphia

The Philadelphia Inquirer

Interactive Developer

Apply Now

Philadelphia

Linode

Cloud Development Representative

Apply Now

Sign-up for daily news updates from Technical.ly Philadelphia

Do NOT follow this link or you will be banned from the site!