From Basketball Courts To Capital Investment: DrakeStar Hypes Up Former D1 Player's Investment Fund For 2024

DrakeStar Partners, an international investment bank, named Profluence Capital among its top sports investors to watch in 2024. Profluence Capital, spearheaded by co-founder Andrew Petcash, aims to revolutionize the landscape of sports investment with an innovative approach that combines sports, media, and technology. Its inaugural fund has raised about $50 million and boasts an impressive lineup of investors, including pro athletes, team owners, and high-level executives from various industries. The firm’s unique focus on name, image, and likeness (NIL) opportunities, as well as prioritizing athlete ownership over traditional endorsements and empowering athletes to build valuable equity portfolios. Read Also: Betr Announces New $15M Funding, $375M Valuation: How Co-Founders Jake Paul, Joey Levy Plan To Grow In 2024 Led by a team of former collegiate and professional athletes, including Petcash, Mitch Baruchowitz, Josh Dixon, and Grace Lee, Profluence Capital's team has strong expertise in sports, finance, media, and entrepreneurship. Notably, 50% of the partners are People of Color, reflecting the firm’s commitment to diversity and inclusion. Profluence Capital’s investment portfolio includes emerging sports teams and leagues, as well as early-stage sports technology companies such as Prep Super League, Westchester SC, Minutely, and SportsVisio. Petcash, with his background as a Division 1 basketball player and media influencer, has leveraged his platform to advocate for athlete empowerment through equity in sports. “It's an exciting time to be in sports as the industry becomes a legitimate asset class," Petcash said. "Our approach, deeply rooted in our media presence and the expertise of our investment team, positions us to explore and capitalize on emerging sports IP, NIL, and the tech/media companies surrounding sports. Being named by DrakeStar as an investor to watch is a great honor and a testament to our innovative strategy.” Profluence Capital is not only changing the narrative in sports investment but also creating a new playbook for athlete financial empowerment. Now Read: Shutterstock