Green Bay Packers, Microsoft raise $70M for second fund
TitletownTech, a venture capital firm formed by the Green Bay Packers and Microsoft, raised $70 million for its second fund.
Why it matters: The Packers are part of a small but growing number of professional sports teams that have added the title of "investor" in an effort to expand their influence.
Details: TitletownTech raised the $70 million from 27 investors, both new and old, including the Packers and Microsoft.
- TitletownTech now has $95 million in assets under management between the two funds.
- The company launched in 2019 with a $25 million fund.
- TitletownTech puts its investments in six different industries: sports, media and entertainment; health and wellness; agriculture, water and environment; manufacturing and construction; supply chain and logistics; and cross-industry technologies.
By the numbers: The firm has already made 10 investments with the second fund, managing director Craig Dickman tells Axios, and has made 33 investments overall since 2019.