Venture Firms Enter Pro Sports Ownership with Thrive Capital and Collaborative Fund
Collaborative Fund has joined the trend of venture capital firms investing in professional sports teams, taking a stake in D.C. United and its Audi Field stadium. This follows similar moves by Thrive Capital, which launched Thrive Eternal to invest in iconic franchises like the San Francisco Giants and later co-owning the Los Angeles Lakers for $12.5 billion with Bob Iger. Historically, pro sports ownership has been dominated by private equity firms or individual tech wealth, such as Vinod Khosla's investments in NFL teams. However, Thrive Capital and Collaborative Fund are taking a different approach—using venture capital funds to treat sports franchises more like infrastructure than traditional assets. Collaborative founder Craig Shapiro sees D.C. United not just as an asset but as a platform for showcasing the firm’s portfolio companies through events at Audi Field. Shapiro emphasizes leveraging live experiences and stadium foot traffic in an era where AI is making digital interactions feel synthetic, positioning sports ownership as part of a broader consumer strategy.
Topics: Collaborative Fund D.C. United pro sports investment sports ownership venture capital