So what do you do after winning the NBA finals? If you answered "go to Disney World, of course," then you aren't a dealmaker. Boston Celtics general partner Wyc Grousebec -- earlier this month
seen on ABC holding the NBA's Larry O'Brien Championship Trophy over his head -- instead is reportedly going on a road trip for a new $200 million fund that would invest in sports-related ventures,
according to The Boston Globe.
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Although Grousebec is best known for his role with the Celtics, he made his money in venture capital at Highland Capital Partners, where he remains a part-time adviser to the firm. Prior to buying a stake in the Celtics in 2003, Grousbec was a general partner at the firm. To help manage the new sports fund, Grousbec reportedly has tapped Mark Wan, a partner at Silicon Valley-based venture firm Three Arch Partners, who also moonlights as part of the Celtics limited partnership of dealmakers from VC and private equity firms.
If any of this sounds familiar, it should. Hedge funder John Henry expanded his sports empire after winning a championship with another Boston franchise, MLB's Red Sox. In February 2007, Henry acquired a 50% stake in NASCAR's Roush Racing team, which was immediately renamed Roush Fenway Racing, referencing of course the Red Sox's home.
Maybe Grousbec will follow Henry's lead, and pay homage to the Celtics in the yet unnamed fund. - Matthew Wurtzel
See Dealscape: Dealmakers' purchase of the Celtics finally pays off
(Full disclosure: Matt is an insufferable Boston sports fan, and native son of Massachusetts. - The editors)
