Verance joins the recently announced funding round with Liberty Global, Wildcat Capital Management and Playground Productions
August 14, 2024 02:18 PM Eastern Daylight Time
NEW YORK–(BUSINESS WIRE)–Range Media Partners, the diversified global talent representation & production firm, which includes its rapidly growing sports division, Range Sports, announced today that it has secured a minority investment from Verance Capital, a prominent New York-based growth investment firm focused on sports, media, and entertainment. Verance joins Range’s recently announced new strategic investor group inclusive of Liberty Global, New York-based family office Wildcat Capital Management and family entertainment company Playground Productions to drive growth opportunities, strategic acquisitions, new ventures, and expansion in existing and new verticals and markets.
Range Media Partners formed Range Sports in the summer of 2022, and since then, the division has quickly established itself as one of the most dynamic and diversified businesses in the industry spanning athlete representation, property representation, brand consulting, IP creation, and content production. In the past year, Range Sports has acquired growth-stage companies within the media rights, athlete marketing, football, golf, and Olympic verticals, solidified its premier reputation as a top representation firm for female athletes, expanded its property rights division with key hires, and continues to expand its content creation ambitions as underscored through its work with the CW Network and the recently announced partnership with the New York Mets.
“We have been very methodical in building Range Sports, focusing on representation in key verticals and offering best-in-class capabilities in high-value, high-impact arenas,” noted Will Funk & Greg Luckman, Co-Presidents of Range Sports. They further explained, “Along with Range Media Partners, we’ve been equally deliberate with identifying an ideal strategic partner to help us accelerate our growth through investments and acquisitions. We are honored to partner with Verance on this new progressive chapter for Range Sports.”
Formed in 2020 with the backing of Ted Segal, majority owner of the Houston Dynamo and Dash, Verance partners with leading entrepreneurs and management teams, providing early and growth stage capital across sports, media and live entertainment. Verance’s robust portfolio includes companies and innovators shaping the future of these industries and highlights the fund’s dedication to new technology, media distribution & content production, and commerce-driven experiences. Through this new strategic partnership and growth funding, Range will be able to further bolster its aspirations across all categories of its business with a dedicated focus on building and/or acquiring high-growth potential, high value assets in sports.
Lyle Ayes, Founder & CEO of Verance, stated, “We’re thrilled to partner with the team at Range to help accelerate their expansion across the sports and entertainment landscape. Range has quickly cemented itself as a leader in these verticals, and our complementary portfolio and sector expertise made this a natural partnership. We look forward to a prosperous relationship as Range continues to innovate and scale for the long-term.”
Verance joins the investor group comprised of affiliates of Liberty Global and an investment fund advised by Wildcat Capital Management, as well as Rick Hess, which is led by Forest Road Asset Management LLC and accompanied by an investment from Playground Productions. Collectively this new investor group joins Range’s existing strategic investors Point72 Ventures and A+E Networks.
About Range
Range Media Partners guides the most creatively ambitious minds in building cultural capital, amplifying their truly remarkable & diverse voices and unlocking full global value in all businesses. Through talent representation, production, storytelling, live experiences, data, Web3/AI strategies, and venture incubation, we drive strategic growth and innovation for our clients spanning film, television, music, sports, literary, digital, gaming, activism, business, and brands. Our mission is to maximize value, diversify & scale opportunities, and build the future of entertainment and culture. From supporting athlete endeavors on and off-field, to developing premium content, to monetizing rights holder assets, Range Sports’s goal is to build a thriving ecosystem for talent, properties, and brands in sports. In collaboration with Range’s television and film studio, Range Sports develops scripted and unscripted projects while also advising clients on commercial rights, media/content distribution, brand partnerships, and business development/incubation.
About Verance Capital
Verance Capital is a growth investment firm that partners with leading entrepreneurs and management teams in the sports, media, and live entertainment industries. With a flexible and long-term approach to investing, Verance leverages its industry expertise and an expansive global network to drive success for its partners. For more information, visit www.verancecap.com.
Contacts
Sean Brech, DKC, Sean_brech@dkcnews.com