Texas PSF Commits $200M to Velocity Fund, Seeks “Significant” Stake in Firm

New York-based Velocity Capital said its flagship fund has captured a $200M anchor investment from the Texas Permanent School Fund (PSF), which also “intends to acquire a significant ownership stake” in the sports, media, and entertainment private equity investor.

In an October 21 press release, Velocity said the Texas PSF has allocated $200M to its flagship Opportunity Fund and agreed to take a minority stake in the firm, with that transaction set to close in the fourth quarter. The agreement would also see the $56B sovereign wealth fund, established to support public education in Texas, allocate additional capital to Velocity Capital through co-investments, credit, and real estate funds.

Velocity Capital specializes in alternative investments for the sports, media, and entertainment sectors, with active investments in portfolio companies Parella Motorsports, Elevate Sports Ventures, Videocites, X Games, and Camp.

View the press release here.

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