Business & Finance
Collaborative Fund acquires stake in D.C. United and Audi Field
TechCrunch reports that the venture firm is using its early-stage fund to back the MLS team.
The short version
- Collaborative Fund is purchasing an ownership stake in Major League Soccer club D.C. United and Audi Field.[TechCrunch]
- The firm is financing the acquisition directly through its early-stage fund rather than an asset-specific vehicle.[TechCrunch]
- Founder Craig Shapiro aims to leverage stadium foot traffic to distribute and promote portfolio startups.[TechCrunch]
- The transaction remains contingent on final approval from Major League Soccer.[TechCrunch]
Key facts
- Collaborative Fund is purchasing a stake in MLS team D.C. United alongside its home stadium, Audi Field.[TechCrunch]
- The transaction is being funded directly out of the venture firm's early-stage seed and Series A investment fund.[TechCrunch]
- D.C. United's valuation has reached $785 million, up from $35 million in 2008 including its venue and real estate.[TechCrunch]
- Collaborative Fund founder Craig Shapiro plans to use the venue's foot traffic as a distribution network for consumer portfolio brands.[TechCrunch]
What remains uncertain
- The investment remains pending official review and approval by Major League Soccer.[TechCrunch]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.