SeventySix Capital has acquired an undisclosed stake in gaming platform Lucra Sports as part of a fresh series of investments.
SeventySix described Lucra as a “social-first” platform that enables “peer-to-peer, real-money gaming”. Lucra is currently available for adults to download via the iOS Apple App Store in 37 US states.
The venture capital company, which focuses on sports betting, technology and media start-ups, has joined a number of familiar figures from the sporting world in investing in Lucra.
Other investors include Milwaukee Bucks and Raptor Group owner Marc Lasry, US women’s soccer team star Julie Ertz, tennis player John Isner and Philadelphia Eagles NFL ace Zach Ertz.
“Lucra is for anyone who has ever filled out a bracket, bought a Super Bowl square, or teased a friend about their favorite player or team,” Lucra CEO Dylan Robbins said. “Everything is more fun with friends, and above all, Lucra provides a fun way to engage with friends around sports.”
SeventySix has previously sold three portfolio companies, including sports betting media network VSiN to DraftKings, sports betting platform Vigtory to FuboTV, and sports and entertainment media company Team Whistle to Eleven Sports.
Alongside Lucra Sports, SeventySix also announced new investments in augmented reality-based fan technology company Quintar and NFT Pro, which provides a white label solution for brands seeking to create, mint, market and sell non-fungible tokens.
“We are excited to unveil the first three innovative sports-focused investments in our new fund,” SeventySix managing partner Wayne Kimmel said. “The management teams of these companies exemplify the types of entrepreneurs who are transforming the sports industry.”
SeventySix is a partner of the American Gaming Association to promote its “Have A Game Plan” responsible sports betting campaign.