Commonwealth + WinStar – The Future of Horse Racing
[LOS ANGELES, April 18, 2024] – Commonwealth, a leading platform for fractionalized sports investment opportunities, today announced the acquisition of ALAO Invest LLC and its registered Funding Portal. The strategic move enables athletes and teams across the world of sports to raise capital from fans eager to invest in their career and development for as little as $50/share.
The acquisition follows a stellar 2023, during which Commonwealth doubled its user base after Mage’s Kentucky Derby win, launched athlete fundraising with two NCAA All-American golfers, and enhanced its cutting-edge platform by implementing industry-first features to solidify its position as the pinnacle of fan-friendly sports investment platforms.
“Our mission is clear: providing athletes with a platform to raise money while inviting fans to support and share in their remarkable journeys,” said Brian Doxtator, Co-Founder and CEO of Commonwealth. “With this acquisition, we’re not just providing access to transparent funding; we’re freeing athletes to focus on their careers without the weight of financial stress. It’s a step towards democratizing sports and fostering a fair, athlete-centric industry. And for our vibrant community, it’s a front-row seat to thrilling experiences and lifelong memories.”
To fuel its future growth strategy following the acquisition, Commonwealth recently closed a $4.5M fundraising round led by Howard Lindzon/Social Leverage, Roger Ehrenberg/Eberg Capital, NFL legend Larry Fitzgerald, and other notable investors. The capital allows it to expand its sports offerings, advance its industry-leading platform, and hire top industry talent.
“Commonwealth’s blend of digital connectivity and tangible engagement is reshaping the sports industry, offering a meaningful connection between athletes and fans like never before,” said Roger Ehrenberg, Managing Partner, Eberg Capital. “We’re confident our investment will continue their ability to scale and solidify their position as a leading fan sports investment platform.”
The Portal enables Commonwealth to accelerate its expansion beyond golfers and racehorses and seamlessly launch tennis this Summer. The platform’s transparency and compliance ensures the secure and responsible management of critical funding for athletes’ careers, including coaching, training, equipment, health and wellness, competition expenses, and more. All offering details, agreements, and use of funds will be publicly available on the platform, instilling confidence to our users and partners.
As part of its growth commitment, Commonwealth recently welcomed top industry talent to its team. This includes former professional tennis player, UTR Sports executive, and USTA Director of College Tennis Stephen Amritraj, who leads expansion into tennis; former adidas, Converse, and Morton Salt marketing communications executive Paul Jackiewicz, who takes on the role of Head of Communications; and former Bloodhorse Sales Editor Lauren Gash, who will serve as Racing Manager. Their expertise and experience further solidify Commonwealth’s position as a leading sports investment platform.
About Commonwealth:
Commonwealth is a leading fractional sports investment platform that allows fans to buy equity shares in athletes. Dedicated to empowering athletes and providing thrilling fan experiences that create lifelong memories, they use innovative technology to democratize sports. Learn more and download the app here.
Launched in 2019, Commonwealth took horse racing by storm with 2023 Kentucky Derby winner Mage and the world’s highest-earning racehorse of 2022, Country Grammer. In June 2023, Commonwealth expanded into golf by allowing fans to back players for multiple seasons in exchange for multi-year, athlete-friendly income share agreements. The golf roster includes Cooper Dossey (Korn Ferry Tour) and Joey Vrzich (PGA TOUR Americas).
Media contact:
Paul Jackiewicz, Head of Communications
Paul@joincommonwealth.com
(773) 398-6310 (m)