Athletic Ventures wants to connect sports stars with investments where they feel a personal alignment to the problem.
, who scored 68 on his debut opening the batting for the Australian Test cricket team. These upstanding citizens all voluntarily advise the firm.currently sits on the Guzman y Gomez board, thanks to the 40 per cent stake held in the company by Sydney-based firm TDM Growth Partners, which he co-founded. We’re sure any and all potential conflicts of interest were handled professionally.for a partial sale of its shares, worth $150 million, or about 9.
In any case, there’s obviously something about Guzman y Gomez and cricketers. One-time Cricket Australia sponsor Magellan Financial Group held an 11.6 per cent stake in the burrito chain, but sold the parcel to Magellan’s own investment bank start-up Barrenjoey. Barrenjoey, in turn, plans to use the stake to seed a new trust for high-net-worth investors, in effect potentially setting up a double-win, given it secured $140 million in cash for its Guzman y Gomez stake, and a further $6 million if the business succeeds into the future. Cosier than a blanket burrito!
Athletic Ventures has a total parcel of 500 shares, worth $4000 each, which makes up the $2 million allotment, and sports stars are open to take as big a bite as they want. And hey, if they’re lucky enough to grab a slice, the subsequent promotional material produced by Athletic Ventures is likely to entice further demand for the shares.writes on technology, internet culture, cryptocurrencies and software from our Sydney newsroom. She has previously covered global capital markets and economics.
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