Raine
Venture capitalNew York · Seed–Late Stage
Also known as Raine Capital Llc
Investment thesis
Raine operates as a global merchant bank combining strategic advisory and principal investing across technology, media, telecommunications, sports, entertainment, music, and gaming. Through its advisory practice it works on major M&A and capital-raising transactions for leading and emerging companies worldwide, while its investing arm, including Raine Ventures and a dedicated Gaming Fund, backs companies from early stage through growth and late stage. The firm maintains a strong presence across North America, Europe, the Middle East, and Asia, with specialized teams for sports, gaming, entertainment/content, music, advertising/commerce, and cross-border China and India deals.
Source: firm website, verified Aug 6, 2026.
Fund performance · per public LP disclosures · 4
as of Jun 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Raine Partners IVLPs: New York City Employees' Retirement System, Teachers' Retirement System of the City of New York, New York City Police Pension Fund | 2022 | — | — | 1.11x | 1.11x |
| Raine Partners IV, L.P.LPs: New Mexico Educational Retirement Board, New York City Employees' Retirement System, Teachers' Retirement System of the City of New York +3 more | 2022 | — | 8.3% | 1.11x | 0.00x |
| Raine Partners IIILPs: New Mexico Educational Retirement Board, New York City Police Pension Fund, New York City Board of Education Retirement System | 2018 | — | 1.2% | 1.05x | 0.06x |
| Raine Partners IILPs: New York City Police Pension Fund, New York City Board of Education Retirement System | 2014 | — | 24.2% | 2.95x | 2.29x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
Frequently asked questions
- What stage does Raine invest at?
- Raine invests at the Seed, Series A, Series B, Growth, Late Stage stages.
- What sectors does Raine focus on?
- Raine focuses on AI & Machine Learning, Consumer, Gaming, Media & Entertainment, Sports Tech, Wellness & Fitness.
- Where is Raine located?
- Raine is headquartered in New York, US.
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