Retired baseball players have announced the creation of Dugout Ventures, a private equity group focused on supporting baseball specific companies and initiatives.
Launched by David Ortiz, Barry Larkin, Nolan Ryan, Torii Hunter and Vernon Wells, Dugout Ventures will leverage the baseball knowledge and expertise of current and former players to support brands and companies within the sport. Ortiz, Larkin, Ryan, Hunter and Wells will be instrumental in both the operations and investment decisions of the firm.
Dugout has already provided bridge financing to EvoShield, the official protective gear of MLB, and Marucci Sports, an MLB bat company.
In addition to focus on investments, the firm also provides young players with an opportunity to learn about the business side of baseball from experienced players.
Beyond the primary group made up of players, Dugout Ventures is also announcing its first $50MM LP fund, where accredited investors can invest alongside the players.