Thursday, August 8, 2019

23 Capital expands into Europe with new Barcelona office | Music Business Worldwide

23 Capital, a prolific investor in the Sports, Music and Entertainment (SM&E) sectors, has today announced the opening of its fourth international office, with a dedicated sports team based in Barcelona.

The firm said that the move “further leverages 23 Capital’s position as one of the world’s leading cross-border European lenders to the football industry”.

Since inception in 2014, 23 Capital has deployed and advised on over $3bn of transactions and has committed and partnership capital of over $2bn to invest across the SM&E sector.

In late 2017, 23 Capital brought on two significant equity partners and transactional capital providers in Quantum Partners LP, a private investment fund managed by Soros Fund Management LLC (and its affiliates) and Corrum Capital alongside the founding shareholders.

In January, 23 Capital invested in commercial rights business SRM Sport & Entertainment, which was co-founded by two senior executives with rights ownership backgrounds, Judith Griggs (ex-Formula One), and Charles Garland (ex-Syco and 19 Entertainment).

With a head-quarters in London, plus offices in Los Angeles and New York, 23 Capital’s Barcelona move boosts the company’s international presence.

It says its Barcelona-based team will work with “many of the leading teams and associations in European football and across other sporting sectors including tennis, cricket, rugby, F1, Formula E, MotoGP and basketball”.

Jonny Nye, Managing Director of Sport at 23 Capital, and former Nike EMEA Sports Marketing Director, leads the Global Sports team based out of Barcelona.

Jason Traub, CEO and co-founder 23 Capital said: “Spain is one of the largest markets in world football, so it was essential that 23 Capital have a specialist sports team operating in one of the great sporting capitals’ of the world.

“Following the incorporation of SRG SL into 23 Capital, we are delighted to have Jonny and a dedicated sports team on board to continue exploring the business opportunities presented by the digital transformation shaping the industry.”

Jonny Nye, Managing Director of Sport 23, Capital said: “Spain is host to many of the most successful, dynamic and active clubs in European football, which makes it a natural place for the sports industry to gravitate to. 23 Capital’s Barcelona office provides its international clients with the deep sector expertise they need, which when combined with our ability to fund, creates a powerful proposition.”Music Business Worldwide


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