/Investors

Raine

Venture capital

New York · Seed–Late Stage · 61 people tracked

Also known as Raine Capital Llc

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Investment thesis

Raine combines strategic advisory, capital, and a global network to support both established industry leaders and emerging disruptors. It manages growth equity and venture capital strategies focused on four core verticals — sports, content, music, and gaming — as well as their intersections, supported by specialized teams in advertising, commerce, and technology. Raine believes these sectors will continue to see strong top-line growth driven by globalization and secular technology shifts, positioning its investment strategies to benefit from these trends. The firm leverages its industry expertise and network to guide portfolio companies toward maximizing growth opportunities.

Source: firm website, verified Sep 27, 2026.

Stage
Seed–Late Stage
HQ
New York, NY, US
Instruments
Equity · Debt
Founded
2009
AUM
$2.8B
Tracked investments
33
Acquisitions
1

Team · 61 people

from the firm's website & public directories
Andrea Pascual· Vice President

Vice President and key member of the sports practice; joined in 2017.

Ari Zelman· Managing Director

Managing Director leading principal investments and advisory in sports; previously at J.P. Morgan.

Benjamin Ross· Vice President

Vice President who previously worked in the AIMS group at Goldman Sachs.

Daniel Miller· Managing Director

Managing Director focused on advertising, brands, commerce and creators; joined in 2015.

Grace Mangan· Director of Human Resources

Director of Human Resources overseeing HR functions and recruiting; with the firm since 2009.

Jessica Payne· Managing Director

Managing Director working across the firm's verticals; previously at CODE Advisors and Citigroup.

Kevin Chung· Vice President

Vice President who previously worked in Technology M&A at Morgan Stanley.

Richard Bradley· Vice President

Vice President at Raine; graduated from Harvard College in 2017.

Shpetime Kumbarce· Head of Tax

Head of Tax; previously VP of Tax at PineBridge Investments.

Stephen Jervis· Vice President

Vice President who previously worked in Technology Investment Banking at Morgan Stanley.

Teddy Kleinman· Vice President

Vice President and key member of the sports and real money gaming teams; joined in 2018.

Thomas Patterson· Vice President

Vice President who previously worked at Galatioto Sports Partners and HSBC.

What they invest in

from 20 of 33 portfolio companies

AI & Machine Learning ×8SaaS ×6Consumer ×5Enterprise Software ×5Data & Infrastructure ×4Developer Tools ×4Fintech ×4Gaming ×4

HQs:United States×9India×1

Investments · 33 tracked

founders shown can be your intro path

By year:2024 · 12020 · 12019 · 13 dated

Planetary Systems AIplanetarysystems.ai✓ verified

Planetary Systems AI develops AI systems for space and satellite operations planning, serving government agencies, private companies, and businesses that need to integrate multiple data sources for decision-making in launch and orbital operations.

AI & Machine LearningData & InfrastructureDefense TechSpace Tech

Sridhar Iyengar(Founder, Investor, Inventor)

Co-investorsSeraphim Space

AfterQueryafterquery.comin𝕏

AfterQuery is an applied research lab that curates training data solutions for foundation model development by capturing expert reasoning and decision-making processes.

AI & Machine LearningData & InfrastructureDeep TechEnterprise SoftwareSan Francisco, US

Carlos Georgescu(Co-Founder)inSpencer Mateega(Co-Founder)in

Co-investorsBoxGroupFailup VenturesY CombinatorAltos Ventures

Amuseamuse.io

Amuse offers self-service music distribution that lets independent artists release music to major streaming services and social networks, keep their royalties, and track performance via iOS, Android, or web.

Creator EconomyMedia & EntertainmentSaaS

Co-investorsBridford Investments (Bridford Group)Lakestar

Barndoor AIbarndoor.aiin𝕏

Barndoor provides a control plane for agentic AI that enables enterprises to manage how AI is used, shared, and scaled across their organization while maintaining security and governance.

AI & Machine LearningCloud ComputingDeveloper ToolsEnterprise Software

Co-investors8-Bit CapitalCrosslink CapitalMoment Ventures, LlcBlumberg CapitalFirst Round CapitalFoundersX Ventures+4 more

Bayesbayes.comin𝕏Acquired

Developer ToolsEnterprise SoftwareSan Francisco, US

William Wolf(Founder)inJustin Woodbridge(Founder)in

Co-investorsY CombinatorBayes Entrepreneurship Fund

Bedrock Roboticsbedrockrobotics.comin𝕏

Bedrock Robotics develops autonomous robotic systems for construction sites, applying self-driving vehicle technology to address skilled labor shortages in building, energy, data centers, and factories.

AI & Machine LearningConstruction TechRobotics

Boris Sofman(Founder & CEO)inKevin Peterson(Founder)inAjay Gummalla(Founder)inTom Eliaz(Founder)in

Co-investors8VCC4 VenturesCapitalGDeviation CapitalEclipse VenturesEmergence Capital Partners+8 more

Blackbird Presentsblackbirdpresents.com

Blackbird Presents produces music-focused entertainment content, including tribute celebrations and documentaries featuring artists such as Robbie Robertson and Willie Nelson.

Media & Entertainment

Buildboxheybuildbox.comin

Buildbox is a platform that detects failed user journeys in AI agents that pass their evals but still fail to help users complete tasks, ranking these failures by business impact.

AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise SoftwareSaaSSan Francisco, US

Trishala Jain(Co-Founder)inMark Nour(Founder)in

Co-investorsVela PartnersY CombinatorGaingelsLondon Venture Partners

Candletrycandle.appin𝕏

Candle is a mobile app designed for couples that provides daily games, conversation prompts, date ideas, and shared memory storage to strengthen romantic relationships.

AI & Machine LearningConsumerWellness & FitnessNew York City, US

Alex Ruber(Co-Founder and CEO)inParth Chopra(Co-Founder and CTO)in

Co-investorsY CombinatorDG Daiwa VenturesProgressionValor Equity PartnersTechstars

Carry1stcarry1st.comin𝕏

Carry1st provides payment processing, game distribution, and marketing services for publishers entering African and Middle Eastern markets.

B2B MarketplacesFintechGaming

Lucy Hoffman(Founder)in

Co-investorsBitkraft Esports VenturesSony Ventures CorporationAlumni VenturesAndreessen HorowitzAvenir Growth CapitalCapria Ventures+17 more

Castorecastore.comin

British premium sportswear brand and end-to-end digital retailing platform for professional sports teams.

Philip Beahon(Founder)inThomas Beahon(Founder)in

Co-investorsFELIX CAPITALHanaco Venture CapitalRedrice VenturesBNP Paribas

Chalochalo.comin𝕏

Chalo provides a live bus-tracking app and a tap-to-pay Chalo Card that lets riders in India see real-time bus arrival times and pay for bus travel.

ConsumerLogistics & Supply ChainMobility & Transportation

Vinayak Bhavnani(Founder)in

Co-investorsAdvantedge FoundersAvataar Venture PartnersJITO Angel NetworkSnowflake VenturesStride VenturesTrifecta Capital Advisors+2 more

Cyphergamescyphergames.coin

Cypher Games is a mobile game studio that develops match-3 games, including its title Match Squad, which features cinematic worlds, competitive multiplayer, and city-building mechanics.

Gaming

Co-investorsPlay Venturese2vc

Definely companydefinely.comin

Definely is an AI-powered legal technology platform that helps legal teams create, draft, and review contracts.

AI & Machine LearningLegalTechSaaS

Nnamdi Emelifeonwu(Co-Founder and CEO)inFeargus MacDaeid(Co-Founder)in

Co-investorsCornerstone VCCRE Venture CapitalM12 (Microsoft's Venture Fund)Octopus Ventures

Doriandorian.liveJun 2020

Women-first game platform for creators, streamers, and players

Walnut, US

Yuliya Palatovska(Executive Officer, Director, Promoter)Gregory Milken(Director)in

Co-investorsKonvoy VenturesvgamesLondon Venture PartnersMarch Capital Partners

Draft Kingsdraftkings.comin𝕏

DraftKings operates a multi-product gaming platform offering online sportsbooks, daily fantasy sports, and casino games to consumers across desktop, mobile apps, and retail locations.

FintechGamingMarketplacesSector AgnosticSports TechBoston, US

Paul Liberman(Executive Officer, Director)inTige Savage(Co-founder)inMatt Kalish(Founder)inJanet Holian(Executive Officer)inTimothy Dent(Executive Officer)Alan Wayne Ellingson(Executive Officer)

Co-investorsAccompliceACME CapitalAgman PartnersAtento CapitalAurumBoston Seed Capital+17 more

Dubsmashdubsmash.cominMar 2019

New York, US

Suchit Dash(Executive Officer)Jonas Druppel(Founder)in

BoardDanny Rimer(Director)in

Co-investorsBalderton CapitalEniac VenturesIndex VenturesLowercase CapitalSunstone Capital

Duettiduetti.coin

Duetti offers independent music creators fast deals to buy music rights (masters, publishing, and royalties), along with catalog management, distribution, and marketing services to grow their careers.

Creator EconomyFintechMarketplacesMedia & EntertainmentNew York City, US

Christopher Nolte(Founder)inLior Tibon(Founder)in

Co-investorsCohen CircleFlexpoint FordNycaNyca PartnersViola VenturesDeciens+3 more

Duprdupr.comin𝕏

DUPR is a rating platform for pickleball players that calculates and updates player ratings on a 2.000–8.000 scale based on match and tournament results submitted by players or clubs.

ConsumerSaaSSports Tech

Co-investorsChaifetz Group

Filedfiled.comin𝕏

Filed is an AI tax preparer for accounting firms and tax professionals, designed to speed up return preparation while keeping human oversight.

AI & Machine LearningFintechLegalTechSaaS

Co-investorsDay One VenturesNorthzoneNeo

Galaxylaunchpointhq.comin𝕏Defunct

LaunchPoint is a creator marketing platform that connects brands with a network of 50,000+ creators for on-demand content partnerships.

Creator EconomyData & InfrastructureDeveloper ToolsEnterprise SoftwareGamingMarketing TechSan Francisco, US

Adam Neuwirth(Founder)in

Co-investorsRed Bear AngelsY CombinatorGalaxy Ventures

Perlegoperlego.comin𝕏Oct 2024 · $20M

Perlego operates a subscription digital library of more than 1.5 million academic and non-fiction ebooks, offering study tools such as an app, smart search, and citation features.

ConsumerEdTechSaaS

Oliviero Muzi Falconi(Founder)in

Co-investorsEvli Growth PartnersFounders FactoryFounders Factory NYKPN VenturesRedbus VenturesACE & Company+1 more

RCX Sportsrcxsports.comin𝕏

RCX Sports is a youth sports platform backed by professional leagues that provides accessible and affordable sports experiences for youth athletes nationwide.

ConsumerSports Tech

Izell Reesein

BoardEli Manning

Co-investorsHamilton Lane

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

AfterAltSpaceVRAntennaBODiCheddarDayDoc AuthorityEaslEssorPresents

Portfolio news

latest coverage across their companies

Fund performance · per public LP disclosures · 4

as of Jun 2025
FundVintageCommittedNet IRRTVPIDPI
Raine Partners IVLPs: New York City Employees' Retirement System, Teachers' Retirement System of the City of New York, New York City Police Pension Fund2022——1.11x1.11x
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 more2022—8.3%1.11x0.00x
Raine Partners IIILPs: New Mexico Educational Retirement Board, New York City Police Pension Fund, New York City Board of Education Retirement System2018—1.2%1.05x0.06x
Raine Partners IILPs: New York City Police Pension Fund, New York City Board of Education Retirement System2014—24.2%2.95x2.29x

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

How many investments has Raine made?
Raine has 33 tracked investments, 1 of which have exited, including 1 dated in the last 24 months.
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 AdTech, AI & Machine Learning, Consumer, Creator Economy, E-commerce, Gaming, Marketplaces, Media & Entertainment, Sports Tech, Wellness & Fitness.
Where is Raine located?
Raine is headquartered in New York, US.

Media · Podcasts & interviews

featuring the team

Watch CNBC’s full interview with The Raine Group's Joe Ravitch

Joe Ravitch · cnbc.com

Raine Group's Joe Ravitch bet on Silicon Valley

CNBC Television · Joe Ravitch

Images

Raine photo

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