CAMBRIDGE, MA and PALO ALTO — Causeway Media Partners, a venture capital firm focused on sports media and sports technology companies, has announced the closing of Causeway Media Partners II with $211.3 million in capital commitments, exceeding its $175 million target.
Causeway is led by: Wyc Grousbeck, former general partner at Highland Capital Partners and lead owner of the Boston Celtics; Mark Wan, co-founder of Three Arch Partners and part owner in both the Boston Celtics and the San Francisco 49ers; and Bob Higgins, co-founder of Highland Capital Partners. The limited partners of Causeway include professional team owners from the NFL, NBA, MLB, and other leagues. In addition, Causeway’s limited partners include media executives, financial institutions, and general partners from a dozen private equity firms.
Founded in 2013, Causeway has offices in Cambridge, MA and Palo Alto.
“We are excited to launch our second fund and to continue investing in the success of some of the world’s best growth-stage sports media and technology focused companies,” said Wyc Grousbeck, Causeway co-founder.
“There is tremendous investment opportunity within the sports media and sports tech-related industries. Causeway is uniquely positioned to make connections to media companies, team owners and other groups that are helpful to our portfolio companies,” said Mark Wan, Causeway co-founder.
Bob Higgins, Causeway co-founder, stated, “We are extremely grateful for the support of our new and existing limited partners and will continue to work hard to generate superior returns for them. We appreciate the confidence they have shown in both our team and strategy.”