Backing teams to advance the consumer experience in sports, fitness, and beyond
Thrill One (Acquired by Fiume Capital)
Global leader in thrill-based entertainment
About
At Causeway, we invest in growth stage companies in sports, fitness, and related industries. We use our deep experience and networks in these spaces to be value-added partners. We have $340M in capital under management across two funds. If you think we could be a good partner for you, reach out to us at info@causeway.vc.
Liberty Media buys QuintEvents for $313M
SBJ--Liberty Media has purchased more than 90% of QuintEvents in a deal that values the company at $313M. Colorado-based Liberty has a plan to capitalize on its already close relations with the highly sought-after hospitality firm, another major bet on sports and entertainment from the conglomerate that also owns F1, the Braves and SiriusXM.
Quint’s business will now be attributed to Liberty Media’s Nasdaq-traded Formula One Group stock, which was trading for $67.20 as of presstime. The sides said that F1 and Quint will remain separate companies, but that this deal will create more opportunities for Quint not just in F1 but also with other entities it has business relations with like with the NBA, MotoGP and Kentucky Derby.
NASCAR, SeatGEEk enter multiyear official partnerships
NASCAR--NASCAR and SeatGeek, the high-growth technology platform that is transforming the live event experience for fans, teams, and venues, Tuesday announced a multiyear partnership. After entering into a relationship that allowed fans to buy and sell tickets to the sold-out Daytona 500 earlier this year, NASCAR and its owned and operated tracks have expanded SeatGeek’s role within the sport as its Official Ticket Marketplace Partner.
“Fans from all 50 states and 41 different countries across five continents descended upon Daytona to experience the 64th running of the Great American race this past February,” said Daryl Wolfe, EVP and Chief Revenue Officer, NASCAR. “Our new partners at SeatGeek did a tremendous job integrating into our ticket sales ecosystem and providing fans with a frictionless process to buy tickets best-suited for their race day needs. Expanding our partnership across all NASCAR owned and operated tracks was an easy decision.”
Pikmin Bloom hands-on: a cute app that tries to make walking a little more magical
THE VERGE--There’s something strangely satisfying about leaving a trail of colorful flowers in your wake as you explore a neighborhood. It’s also one of the main hooks of Pikmin Bloom, the next release from the creator of Pokémon Go, and another app designed to get you moving in the real world. I’ve been able to play the game for the past few days, and while it’s less of a game than Pokémon Go, it definitely adds some magic and fun to a daily walk.
Pimin Bloom is starting its gradual roll out today, and it’s part of a new partnership between Nintendo and Niantic. The game is billed as a collaboration between Nintendo and Niantic’s Tokyo studio, and Mario creator Shigeru Miyamoto even appears in the launch trailer. Pikmin isn’t necessarily the most obvious choice to kick off the partnership, as it’s one of Nintendo’s more obscure franchises. But in a meeting with reporters, Niantic CEO John Hanke said that it’s also a fictional world that fit well with the type of game the studio wanted to make.
Fast Company’s first-ever Brands That Matter list honors companies and nonprofits that have had an undeniable impact on business and culture.
FAST COMPANY INC—Former American track star Mary Cain made headlines in 2019 for sharing her story of abuse and intimidation as a member of Nike’s Oregon Project. Her revelation brought to light a flawed athlete sponsorship system that treats runners as commodities and links their contracts solely to performance, inhibiting their development and opportunities for advocacy outside the confines of the track. In early 2020, Tracksmith, the upstart running apparel brand, hired Cain not just as a runner, but as a full-time community manager. “The harsh reality is you could be curing cancer, but the brands that have paid athletes forever wouldn’t care,” says Cain. “In non-league sports like track, we need opportunities to build careers, to use our voice, and to train and compete to reach the highest levels of our sport.”
Zwift raises $450 million for gamified fitness to cycle past Peloton
VENTUREBEAT--Zwift has raised an astounding $450 million to expand its online fitness platform for runners and cyclists in direct competition with the likes of Peloton, Apple, and others.
The money came from investment powerhouse KKR, as well as Permira, Specialized Bicycle Components’ venture capital fund, Zone 5 Ventures, and existing investors such as True (not to be confused with True Ventures, which is an early investor in Peloton), Highland Europe, Novator, and Causeway Media. One of the prominent gaming investors is Ilkka Panaanen, the CEO of Clash of Clans maker Supercell. The investment will help accelerate the development of the company’s core software platform and bring Zwift-designed hardware to market.
Wyc Grousbeck (wyc@causeway.vc), Co-Founder & Partner
Wyc has more than 25 years of investment, operating and legal experience. In 2002, Wyc conceived of and led the acquisition of the Boston Celtics, then a publicly-traded company, and became CEO and NBA Governor of the team. Wyc is a member of the Media, Executive, Audit, Compensation, Planning and Labor Committees of the NBA.
Wyc was a General Partner of Highland Capital Partners from 1995 to 2002. While at Highland, he worked closely with Bob Higgins and frequently co-invested with Mark Wan. His early career included time spent as a venture capital lawyer and a business development manager.
Wyc serves on the Board of Directors of Formula E Holdings, Comcast SportsNet New England, and is Chairman of the Massachusetts Eye and Ear Infirmary. He is a graduate of Princeton University where he rowed varsity crew. He also holds a law degree from the University of Michigan and earned an MBA from Stanford Business School.
Bob Higgins (bob@causeway.vc), Co-Founder & Partner
Bob has over 30 years of venture and private equity investment experience. From 1988 to 2013, he was General Partner and Co-Founder of Highland Capital Partners, an investment firm that has raised over $3 billion of capital across nine funds. During his tenure, Bob worked with Wyc Grousbeck and frequently co-invested with Mark Wan.
In 2012, Bob was elected a fellow of the American Academy of Arts and Sciences. He is also a former director of the National Venture Capital Association and president of the New England Venture Capital Association. The Forbes Midas List and AlwaysOn Venture Capital 100 recognized him as one of the top venture capitalists in the industry.
Before starting in venture capital, Bob was the executive director of 3 private foundations in New York. Bob is a former Assistant to both the U.S. Secretary of Commerce and the head of the international division of the U.S. Treasury.
Bob is a graduate of Harvard University where he played varsity hockey. Also, he earned an MBA from Harvard Business School, where he is a part-time faculty member.
Mark Wan (mark@causeway.vc), Co-Founder & Partner
Mark brings over a quarter century of successful private equity and venture investment experience to the firm. Prior to forming Causeway, he was a co-founding partner of Three Arch Partners from 1993 to 2012, a healthcare- focused investment firm that raised over $1 billion of capital commitments across five funds. During his tenure at Three Arch Partners, Mark often co-invested alongside Wyc Grousbeck and Bob Higgins at Highland Capital. Prior to Three Arch Partners, Mark was a general partner at Brentwood Associates, a private equity firm headquartered in Los Angeles.
Mark was a key part of the investment group that purchased the Boston Celtics in 2002. In addition to being an owner in the Celtics, Mark is also an owner in the NFL’s San Francisco 49ers. Mark is a former director of the Western Association of Venture Capitalists.
Mark is a graduate of Yale University and earned an MBA from Stanford Business School. At Yale, he was a varsity swimmer and water polo player.
Dave Poltack (dave@causeway.vc), Partner & Chief Financial Officer
Dave has over 20 years of private equity and venture capital experience. As Causeway’s Chief Financial Officer, Dave is responsible for all financial, operational and administrative functions of the firm including financial reporting, human resources, facilities, IT and investor relations.
From 2011 to 2017, Dave was the Chief Financial Officer and a Managing Director at Globespan Capital Partners, an IT focused global venture capital firm that raised over $1 billion of capital commitments across six funds. His early career included time spent at TVM Capital, a global venture capital firm, and PricewaterhouseCoopers.
Dave currently serves on the Board of Directors of Credit Sesame, the Private Equity CFO Association in Boston and as Treasurer of TiE's Boston Chapter, a not for profit organization promoting entrepreneurship. David earned a bachelor degree in Accountancy, with honors, from Boston College, an MBA, with honors, from Suffolk University and is a Certified Public Accountant.
Wendy Cooper (wendy@causeway.vc)
Executive Assistant, Wyc Grousbeck
Jossette Curtis (jossette@causeway.vc)
Executive Assistant, Mark Wan and Dave Poltack
Patty McKinnon (patty@causeway.vc)
Executive Assistant, Bob Higgins