Next Play Capital

Next Play Capital is a distinctive venture investment firm based in Redwood City, California, that operates with a dual strategy: investing in leading venture capital funds and making direct co-investments into high-growth technology companies. Founded with a unique premise, the firm leverages a powerful network of professional athletes and sports figures who serve as limited partners and strategic advisors. This athlete-led model provides Next Play Capital with unparalleled access to deal flow, proprietary insights, and a robust network that benefits its portfolio companies and partner funds. Their approach allows them to identify and back promising startups alongside some of the most reputable venture capital firms in the industry.

The firm's investment thesis centers on identifying top-tier venture capital managers across various stages and sectors, from early-stage to growth equity. Simultaneously, Next Play Capital strategically co-invests directly into portfolio companies of these funds, often focusing on later-stage, high-potential technology businesses. These direct investments span diverse sectors including enterprise software, fintech, consumer technology, and healthcare tech. This hybrid model allows Next Play Capital to gain diversified exposure to the venture ecosystem while also participating directly in the growth of specific companies that align with their strategic vision and network strengths.

Next Play Capital has demonstrated significant growth and fundraising success since its inception. The firm recently announced the closing of its fifth flagship fund, Fund V, at an impressive $300 million in early 2024, underscoring strong investor confidence in their unique strategy and performance. This latest fund brings their total capital raised across five funds to approximately $790 million, highlighting their substantial presence in the venture capital landscape. Their ability to attract significant capital, combined with their distinctive athlete network, positions Next Play Capital as a formidable player capable of providing both financial backing and strategic value to the companies and funds within their ecosystem.