Otro Capital leads strategic investment in Two Circles

Otro Capital, the New York based sports private equity firm has announced it is making a strategic investment in global sports company Two Circles. Bolt Ventures, David Blitzer’s family office, has also invested alongside Charterhouse Capital Partners and Otro to further fuel Two Circles’ growth and strategic opportunities.

Two Circles is the tech-enabled services company for global sports and entertainment. The company enables leagues, teams and brands to grow their fanbase, revenue and engagement by knowing fans best and utilizing data to provide the right services and solutions that will drive the most value.

Two Circles has long-term partnerships with some of the most iconic sports properties in the world including the NFL, Formula 1, English Premier League and LA28. Most recently, Two Circles achieved major success at the Paris Olympic and Paralympic Games, supporting the Games’ ticketing program, resulting in the largest number of tickets sold, and the highest ticketing revenue generated, for any sporting event in history.

Over the past year, Two Circles has seen tremendous growth in North America, more than doubling its revenue and tripling its number of staff, after several significant wins in the region. These include the addition of MLB and Kentucky Derby to its roster and the creation of its new collegiate business vertical aimed at professionalizing the NIL/revenue generating landscape for student athletes and their universities. This substantial growth will be further accelerated by the strategic opportunities that Otro will provide, made evident by its notable €200mn investment in the Alpine F1 Team in partnership with athletes Travis Kelce, Patrick Mahomes and Rory McIlory.

Alec Scheiner, Otro Partner and Co-Founder, said: “We’ve admired Gareth and the proposition at Two Circles for years. Gareth has built Two Circles into one of the most sophisticated and data driven offerings in sports and its significant growth and levels of client satisfaction are the most impactful we’ve seen. We are thrilled to partner with Gareth, Charterhouse, David, and the entire Two Circles team.”

Gareth Balch, Two Circles Co-Founder and CEO, said: “The team at Otro will be great partners. We have been really impressed by their understanding of the huge role technology will play in accelerating commercial returns for sports properties, as well as their extensive expertise in operating those properties and in sport investing. With continued backing from Charterhouse, the investments from Otro and Bolt Ventures will provide the catalyst to grow our reach and tech-enabled services across North America for brands and properties ready to use first-party data to grow their own direct-to-consumer and B2B programs.”

These two new investors have led to the creation of a newly established Two Circles North America Operating Board, chaired by Otro Partner and Co-Founder, Alec Scheiner who will also join the Global Two Circles Board of Directors.