Bolt Ventures also joins the investment round
Otro Capital, the New York based sports private equity firm has announced it is making a strategic investment in global sports company Two Circles. Bolt Ventures, David Blitzer’s family office, has also invested alongside Charterhouse Capital Partners and Otro to further fuel Two Circles’ growth and strategic opportunities.
Two Circles is the tech-enabled services company for global sports and entertainment. The company enables leagues, teams and brands to grow their fanbase, revenue and engagement by knowing fans best and utilizing data to provide the right services and solutions that will drive the most value.
Two Circles has long-term partnerships with some of the most iconic sports properties in the world including the NFL, Formula 1, English Premier League and LA28. Most recently, Two Circles achieved major success at the Paris Olympic and Paralympic Games, supporting the Games’ ticketing program, resulting in the largest number of tickets sold, and the highest ticketing revenue generated, for any sporting event in history.
Over the past year, Two Circles has seen tremendous growth in North America, more than doubling its revenue and tripling its number of staff, after several significant wins in the region. These include the addition of MLB and Kentucky Derby to its roster and the creation of its new collegiate business vertical aimed at professionalizing the NIL/revenue generating landscape for student athletes and their universities.
This substantial growth will be further accelerated by the strategic opportunities that Otro will provide, made evident by its notable €200mn investment in the Alpine F1 Team in partnership with athletes Travis Kelce, Patrick Mahomes and Rory McIlroy.
Alec Scheiner, Otro Partner and Co-Founder, said: “We’ve admired Gareth and the proposition at Two Circles for years. Gareth has built Two Circles into one of the most sophisticated and data driven offerings in sports and its significant growth and levels of client satisfaction are the most impactful we’ve seen. We are thrilled to partner with Gareth, Charterhouse, David, and the entire Two Circles team.”
Gareth Balch, Two Circles Co-Founder and CEO, said: “The team at Otro will be great partners. We have been really impressed by their understanding of the huge role technology will play in accelerating commercial returns for sports properties, as well as their extensive expertise in operating those properties and in sport investing.
“With continued backing from Charterhouse, the investments from Otro and Bolt Ventures will provide the catalyst to grow our reach and tech-enabled services across North America for brands and properties ready to use first-party data to grow their own direct-to-consumer and B2B programs.”
These two new investors have led to the creation of a newly established Two Circles North America Operating Board, chaired by Otro Partner and Co-Founder, Alec Scheiner who will also join the Global Two Circles Board of Directors.
-ENDS-
About Otro Capital
Otro Capital is an operator-founded private investment firm focused on sports, media, gaming, and entertainment, targeting under-monetized and often under-valued assets. The Otro team, led by Alec Scheiner, Brent Stehlik, Niraj Shah, and Isaac Halyard, has operated and invested in the sports ecosystem for the last twenty-five years. Otro targets investments that share three common factors (i) a differentiated access via a network of sports operators and owners, (ii) valuable intellectual property and (iii) an ability to add value via company building experience and direct operational expertise.
About Two Circles
Two Circles grows revenue for the world’s leading sports rights-holders, using data to create strategies, deliver proprietary technology solutions, package and sell sponsorships, and design and market compelling, tailored content.
From nine international offices (Bern, Cologne, Kansas City, London, Los Angeles, Melbourne, Miami, New York, Paris), Two Circles manages billions of fan data interactions on behalf of over 400 clients around the globe, with more insight into fan behaviour and desire than any other organisation.
About Charterhouse Capital Partners
Charterhouse is one of the longest-established private equity firms operating in Europe. The firm connects expertise and capital, partnering with ambitious founders and management teams to drive transformational change. Charterhouse has a selective, conviction-led approach to investing in high-quality mid-market European companies predominantly across the Services and Healthcare sectors. It targets transactions with an enterprise value of between €150 million and €1 billion. Charterhouse’s international team works in an integrated and flexible manner, allowing the firm to combine the skills, knowledge and experience of its entire team to help build successful businesses over the long term. Charterhouse is currently investing from its eleventh private equity fund. The firm has completed more than 150 acquisitions over 35 years of activity in the European buyout market. www.charterhouse.co.uk
For more information:
Two Circles:
Victoria Tomlinson, Director of Marketing & Communications
Victoria.tomlinson@twocircles.com
Otro Capital:
Ben Sosenko, SRK Strategies
Charterhouse Capital Partners:
Greenbrook
Michael Russell, Sofia Newitt
charterhouse@greenbrookadvisory.com
+44 (0)207 952 2000
