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

Published

2 hours ago

September 10, 2026

Preport

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 “iconic franchises and cultural institutions” for decades, funded by many of the same investors already in Thrive’s venture and growth funds. The firm kicked things off by announcing a stake in the San Francisco Giants. Months later, the same vehicle — with former Disney CEO Bob Iger, a Thrive partner, joining as co-owner — bought the Lakers outright for a record $12.5 billion.

That’s new. Historically, money has poured into pro sports two other ways: individual tech fortunes, and private equity. For example, Vinod Khosla and his family agreed this summer to buy the Seattle Seahawks for a record $9.6 billion soon after the Khosla family also took a stake in the San Francisco 49ers alongside OpenAI chairman Bret Taylor. That was a personal-wealth play, the kind we’ve seen over and over.

Private equity firms have also been at this for years, including Sixth Street, which holds stakes in the Boston Celtics, the New England Patriots, and MLB’s San Francisco Giants; Ares, which owns a piece of the Miami Dolphins outright and separately financed Chelsea’s stadium plans through a $500 million preferred-equity deal; RedBird, which owns AC Milan outright and holds a minority stake in Fenway Sports Group, the holding company behind Liverpool and the Red Sox; and Arctos, with minority positions scattered across MLB, the NFL, the NBA, and European soccer. (Apollo, the newest entrant, has mostly stuck to sports financing deals so far rather than ownership stakes.)

Thrive and Collaborative are doing neither of those things. At the same time, the two firms’ approaches to sports ownership look very different. Thrive built a standalone, permanent-capital vehicle specifically to hold trophy assets. Collaborative is investing out of the same early-stage fund it uses to write seed and Series A checks, and treating the deal less like something to buy and hold and almost more like infrastructure.

In a memo shared with TechCrunch, Collaborative Fund founder and managing partner Craig Shapiro framed the deal as an extension of what the firm already does. “A franchise is the ultimate consumer product,” he wrote, arguing that D.C. United’s status as one of Major League Soccer’s original clubs gives Collaborative access to an institution with a decades-long fan base to build on.

He pointed to the tailwinds around American soccer specifically (a World Cup just behind the sport, the LA Olympics ahead of it, soaring youth participation numbers in the U.S.) as well as D.C.’s ownership of Audi Field in Washington, D.C., plus a talent-development pipeline through Loudoun County, Virginia, and rights to a future Baltimore expansion team.

Indeed, the thesis Shapiro laid out at a TechCrunch StrictlyVC event Thursday night in New York is less about owning a piece of an appreciating asset – the sports team itself – and more about what the team makes possible. Collaborative wants to turn Audi Field into what he describes as a living showcase for its own portfolio.

As a backer of both fitness band maker Whoop and the beverage brand Olipop, for example, Collaborative Fund is imagining a WHOOP wearables activation for fans, or Olipop drinks woven into game-day concessions. He’s thinking about the stadium’s foot traffic — tens of thousands of people showing up on a predictable schedule — as a distribution channel at a time when, because AI is making more of daily life feel synthetic, live experiences are becoming more valuable.

Shapiro doesn’t dwell on this, but it surely helped sell Collaborative’s investors that team valuations have been soaring, so the stake could pay off on its own. Soccer valuations in particular have been on a tear. Inter Miami’s franchise value has roughly doubled in the two years since Lionel Messi arrived, MLS’s average club value is up roughly 134% since 2019, and D.C. United’s own valuation has climbed from $35 million in 2008 to $785 million today, factoring in its ownership of Audi Field and the surrounding real estate.

If Shapiro is right that a franchise is also “the ultimate consumer product,” it could be a pretty good place to park money. Time will tell.

The deal is subject to MLS approval.

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Related Topics:capital Collaborative fund led ownership play Pro Sports Thrive upped VCs

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Falconets Hold China to Goalless Draw, Keep U-20 World Cup Hopes Alive

Published

45 minutes ago

September 11, 2026

Preport

Nigeria’s Falconets fought out a goalless draw with China PR in their second Group F match at the 2026 FIFA U-20 Women’s World Cup in Poland on Thursday, keeping their hopes of reaching the knockout stage alive.

The encounter at Arena Sosnowiec saw both teams create opportunities, but neither side could find the breakthrough as the Falconets secured their first point of the tournament following their opening-day defeat to Spain. Nigeria had lost 2–0 to the former champions in their first match.

Coach Moses Aduku’s side started brightly, with Janet Akekoromowei producing Nigeria’s first clear opportunity in the 17th minute.

The Falconets gradually grew into the contest, with Kafayat Mafisere winning a corner in the 33rd minute before Akekoromowei went close again in the 38th minute and during first-half stoppage time.

China also threatened before the interval, with Huang Jiaxin, Zhou Xinyi and Song Lijuan testing the Nigerian defence, while Xue Sifan delivered dangerous set pieces.

Goalkeeper Christiana Uzoma stood firm whenever called upon, helping the Falconets maintain a clean sheet as both teams went into the break level.

China made an attacking change at the start of the second half, introducing Chen Ruilin for Xiao Yafei, and the substitution gave the Asian side additional impetus.

Chen, Xue and Huang all attempted to break the deadlock, but Nigeria continued to create opportunities of their own.

Precious Oscar, Mafisere and Queen Joseph all went close as the Falconets responded with greater urgency, but the finishing touch remained elusive.

Nigeria thought they had been handed a major opportunity to take the lead in the 74th minute after being awarded a penalty. However, the decision was overturned following a VAR review, leaving the game scoreless.

Both sides continued to push for a winner in the closing stages, but neither could find the decisive goal.

The draw leaves Nigeria with one point from two matches in Group F, while China remain in contention at the top end of the group after their opening 5–0 victory over New Caledonia.

The Falconets will now face New Caledonia on Sunday, September 13, in their final group fixture. The match is scheduled for Łódź, with Nigeria needing a positive result to strengthen their chances of advancing to the knockout rounds.

The result represents an improvement from the opening defeat to Spain, but Aduku and his players know they must finish the group stage strongly.

After being held by China, the Falconets now have their fate partly in their own hands as they prepare for their decisive final group match.

One point gained, one game left — the Falconets must now finish the job against New Caledonia.

Business

CBN disowns purported $46 billion grant approval

Published

1 hour ago

September 10, 2026

Preport

The Central Bank of Nigeria (CBN) has disowned a purported document claiming that Governor Yemi Cardoso approved a $46 billion developmental grant to an organisation.

CBN, in a post on its official X account on Thursday, described the document as “fake” and urged members of the public to disregard it.

The purported letter, dated 13 August 2026, was addressed to the “Atufeg Empowerment and Development Centre” and claimed to be an official endorsement and authorisation for the release of a developmental grant.

It purportedly bore Mr Cardoso’s signature and stated that CBN had authorised the immediate transfer of $46 billion to the beneficiary’s designated account for the execution of “approved national empowerment and developmental projects.”

“The CBN confirms full endorsement and authorises the immediate transfer of these funds to the beneficiary’s designated account,” the purported letter stated.

It further claimed that the authorisation was “final and binding.”

Disclaimer

However, the apex bank, while sharing an image of the document on X, said: “This content is FAKE. Let the public be guided.”

CBN’s disclaimer comes amid the recurring circulation of purported government and financial institution documents on social media, underscoring the importance of verifying such claims through official channels before acting on them.

In recent months, OPay Digital Services Limited, May & Baker, MTN, Wema Bank and other corporate organisations have dissociated themselves from social media posts published by unauthorised entities impersonating their brands and issuing purported corporate messages.

On Thursday, the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) announced that it had arrested Hafsat Abubakar for circulating false rumours about the OPay shutdown.

Similarly, in July, PREMIUM TIMES uncovered how unauthorised video advertisements on TikTok, offering financial assistance such as grants, loans, giveaways, and investment opportunities, were used to scam Nigerians.

The investigation found that the fraudulent ads, some of which were AI-generated, were designed to target and lure unsuspecting Nigerian users into scams.