David Abrams – Sports Ecosystem Investing at Velocity (Capital Allocators, EP. 303)

This sponsored insight features David Abrams, Founding Partner of Velocity Capital Management. Velocity is a newly formed firm that focuses on investing with founders to build best-in-class sports, media, and entertainment companies.

Our conversation covers David’s background, long experience in distressed investing on Wall Street and at Apollo, and personal investments in sports-related businesses that led to serving at CIO of Harris Blitzer Sports & Entertainment. We then turn to the formation of Velocity, the firm’s focus, deal sourcing, diligence process, value-added ownership, and example of its investment in the X-Games.

Show Notes:
(01:31) Wall Street in the late 1980s
(02:57) David’s background
(08:41) Investing in European distressed at Credit Suisse
(14:41) Building a business inside Apollo
(17:41) Operating experience and lessons learned
(25:23) Joining HBSE
(28:27) Formation of Velocity
(30:13) Velocity’s focus
(32:59) Opportunity set in sports ecosystem
(34:22) Sourcing deals
(37:22) Due diligence process
(40:15) Value added ownership
(41:38) X-Games investment example
(46:24) Team and advisors
(48:25) Capital raising environment
(49:50) Closing questions

 

Learn More 

Follow Ted on Twitter at @tseides or LinkedIn 

Subscribe to the mailing list 

Access Transcript with Premium Membership