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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 $390M in capital under management across three funds. If you think we could be a good partner for you, reach out to us at info@causeway.vc.

At the Sports Business Awards in New York, Strategic Sports Group’s investment in the PGA TOUR was named Deal of the Year

The Strategic Sports Group’s Investment in the PGA TOUR edged out other landmark transactions in claiming Deal of the Year.

The Fenway Sports Group-led team of investors completed an initial $1.5B investment to launch for-profit commercial entity PGA Tour Enterprises. That funding not only preceded a competitive restructure for the tour, but the new commercial initiative also granted equity to tour players and provided a key financial counterbalance to a potential deal with LIV Golf.

Sam Kennedy, Fenway’s CEO, admitted some surprise at emerging victorious in such a tough category.

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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.

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Exclusive: Posh lands $37M Series B to crack the ‘what are we doing tonight?’ problem

Event platform Posh raised a fresh $37 million to solve one of the quintessential “tarpit” startup ideas: turning the “what are we doing tonight?” group chat into an actual plan.

Founded in 2019 by then‑New York University students Avante Price and Eli Taylor‑Lemire, Posh began as software they built to run their own events after getting cheated by promoters and hitting the limits of Eventbrite. “I was using Eventbrite and other products to manage events, and then realized that the technology components were missing a ton of the capabilities that I needed,” Price told Fortune. That pain point became Posh’s product: a business‑first platform where organizers, not the marketplace, sit at the center.​ The company is already capturing corners of the events industry which is on track to be worth more than $2 trillion by 2028.

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Longtime Hollywood agent and power-broker Ari Emanuel has launched MARI, his events and experiences company, after it closed its acquisitions of IMG’s portfolio of international tennis events and art organization Frieze along with a majority ownership interest in Barrett-Jackson, a premium collector car auction and automotive lifestyle brand.

VARIETY—Emanuel, founder of and principal investor in MARI, remains chairman of WME Group (which went private earlier this year in a deal with Silver Lake) and CEO of TKO Group, the parent company of WWE and UFC.

MARI’s tennis portfolio includes two premier ATP Masters 1000 and WTA 1000 tournaments — the Miami Open presented by Itaú and Mutua Madrid Open — alongside WTA events such as the Mubadala Abu Dhabi Open, Mubadala Citi DC Open, and SP Open. It also features exhibitions such as Giorgio Armani Tennis Classic and MGM Macau Tennis Masters, as well as the management of major ATP tournaments including the Chengdu Open, Hong Kong Open, Japan Open and Rio Open.

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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.

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Wyc Grousbeck (wyc@causewaymp.com), Co-Founder & PartnerWyc 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.

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@causewaymp.com), Co-Founder & PartnerBob 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.

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@causewaymp.com), Co-Founder & PartnerMark 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.

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@causewaymp.com), Chief Financial OfficerDave 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.

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@causewaymp.com)Executive Assistant, Wyc Grousbeck

Wendy Cooper (wendy@causeway.vc)

Executive Assistant, Wyc Grousbeck

Jossette Curtis (jossette@causewaymp.com)Executive Assistant, Mark Wan and Jasmine Robinson

Jossette Curtis (jossette@causeway.vc)

Executive Assistant, Mark Wan and Dave Poltack

Patty McKinnon (patty@causewaymp.com)Executive Assistant, Bob Higgins

Patty McKinnon (patty@causeway.vc)

Executive Assistant, Bob Higgins