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Thrive Capital led VCs into pro sports ownership; Collaborative Fund just upped that play

TechCrunchSeptember 10, 20265 min read

Collaborative Fund just bought into D.C. United and its stadium, with firm founder Craig Shapiro pitching it as a way to showcase for the firm's startups.

Collaborative Fund, the 15-year-old, New York-based generalist venture firm that has roughly $1 billion under management and which made early bets on Lyft, Reddit, Sweetgreen, and Olipop, among others, is taking a stake in the soccer club D.C. United and its stadium, Audi Field. It’s the latest — and smallest — firm to try something that Thrive Capital opened the door to just months ago: turning venture money into pro sports ownership. To recap, Joshua Kushner’s Thrive launched a new vehicle, Thrive Eternal, explicitly built to hold…

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