Venture Firm Collaborative Fund Buys Stake in D.C. United and Audi Field

Collaborative Fund, a New York-based venture firm managing roughly $1 billion, announced a purchase of an equity stake in D.C. United and its venue, Audi Field. The move mirrors a new trend sparked by Thrive Capital, whose Thrive Eternal vehicle was created to hold long-term cultural and sports assets, including a share of the San Francisco Giants and a $12.5 billion acquisition of the Los Angeles Lakers. While private-equity groups and tech billionaires have long owned sports franchises, Collaborative Fund is investing directly from its seed-stage fund, viewing the club as a “ultimate consumer product.”

Craig Shapiro, the firm’s managing partner, said the deal leverages the stadium’s regular crowds to showcase portfolio companies like Whoop and Olipop, turning live events into distribution channels. He also cited the surge in U.S. soccer interest, upcoming World Cup momentum, and the potential for expansion into Baltimore as growth drivers. D.C. United’s valuation has risen dramatically since 2008, now estimated at $785 million. The purchase is pending MLS approval.