PitchBook senior editor James Thorne discusses the risks facing VC investors with stakes in Chinese companies as a regulatory crackdown looms, and then RedBird Capital managing partner Rob Klein joins the show to discuss the firm's sports investing strategy, including recent deals for stakes in the Boston Red Sox, Liverpool FC and, alongside Dwayne "The Rock" Johnson, buying the XFL out of bankruptcy.
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Transcript
Adam: Certainly, Redbird has been on the news a lot here over the past few months for making this push into pro sports investing. We'll get into the specific deals later, but just broadly, what do you think is driving these institutional investors now getting involved in the pro sports arena? It seems like it's really picked up here over the past few years.
Rob: It's definitely picked up. Maybe I'll spend a moment or two on RedBird, put this into context, and then we can talk about that.
Adam: That sounds good.
Rob: I think it is important for listeners to understand who we are and how sports fits into it. We invest in four sectors. We're in sports, TMT, consumer and financial services. Those sectors feed each other, and there's a synergy between those two sectors. When we get into sports, I'll explain more what that means. We were founded by a gentleman...
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