Otro Capital, a sports-based private equity firm from New York, is investing in Two Circles, the London-based international sports agency.
Two Circles, which now has nine global hubs, has also received investment from Bolt Ventures (the family office of US investor and sports franchise owner David Blitzer) and Charterhouse Capital Partners.
Otro stated that Two Circles’ recent significant growth “will be further accelerated by the strategic opportunities that Otro will provide.”
The latter firm’s recent activities include taking part in a $200 million-investment into the Alpine Formula 1 motor racing team last June, alongside renowned athletes Patrick Mahomes, Travis Kelce, and Rory McIlroy.
Through this investment, a Two Circles North America Operating Board has been created, to be chaired by Alec Scheiner, an Otro partner and co-founder. He will also join the Two Circles board of directors.
Gareth Belch, co-founder and chief executive at Two Circles, said: “The team at Otro will be great partners. We have been really impressed by their understanding of the huge role technology will play in accelerating commercial returns for sports properties, as well as their extensive expertise in operating those properties and in sport investing.”
Earlier this month, Two Circles brought in experienced commercial executive Lars Stegelman to lead its new office in Germany as the company expands into a new market.
The firm has also appointed 20 senior consultants, with the team to be headed up by Stegelman at the agency’s new base in Cologne.
Scheiner added: “Gareth has built Two Circles into one of the most sophisticated and data-driven offerings in sports and its significant growth and levels of client satisfaction are the most impactful we’ve seen.”
Two Circles has secured several key contracts in recent months, after being appointed to sell commercial and media rights for UEFA European women’s soccer, for the 2025-30 cycle, and becoming the main sponsorship and digital sales agency for World Rugby in an expanded tie-up.
