David Abrams and Arne Rees have launched Velocity Capital Management, an investment firm focused on building businesses in the sports, media and entertainment categories.
Abrams, co-founder of Velocity Capital and chair of the investment committees, was previously the chief investment officer of Harris Blitzer Sports & Entertainment. Rees, also co-founder of Velocity Capital, worked as the U.S. CEO of Sportradar prior to Velocity. Together, they share more than 60 years of collective experience as investors, owners and operators of professional sports and e-sports franchises.
Velocity will target businesses focused on technology to aim for an improvement in the ways people consume content, play and experience sports and interact with each other. The firm looks to provide strategic capital, operational expertise and a network of relationships in the industry. Velocity has already closed one investment in Camp NYC Inc., an interactive shopping experience for young families.
“Today’s capital raising and operating environments for growth-stage companies are challenging, and it is becoming increasingly important for management teams to have access to experienced partners they can rely on to help them scale their businesses,” comments Abrams. “Our expertise as investors, owners, and operators in the industries in which we specialize enables us to serve as both a capital provider and strategic business partner focused on driving long-term value creation for all stakeholders.”