There are now several Super Bowl-winning quarterbacks pursuing second careers in private equity. Eli Manning on Monday announced plans to join the brand Velocity Partners as a full partner, with responsibilities to drive new investments and business development.
Manning retired from the NFL in 2019 after a 16-year career with the New York Giants, including the Super Bowl championships in 2007 and 2011. You may have seen him moonlight with brother Peyton Manning in recent months on Manningcast, a new alternate broadcast. Monday Night Football which was launched by ESPN this season. But now, Young Manning plans to dive into the buyout business, following in the footsteps of San Francisco 49ers veteran and fellow ESPN analyst Steve Young, who has been a chairman and cofounder at the Palo Alto-based private equity firm for the past 15 years. worked as. HGGC.
Manning is no stranger to BVP — as its name implies, focused on using marketing, partnerships, operational transformation and other tools to rapidly expand the scope and name recognition of consumer-focused companies. He was previously an investor in the firm, and last March, he and his father, Archie Manning, became the first brand ambassadors for BVP’s portfolio company, BBQGuys. BBQGuys planned to go public last year through a $963 million SPAC deal, marking a wave of public debuts for outdoor cooking companies. But it canceled the deal in November, citing disruptions in its supply chains.
In a series of interviews with various outlets today, Manning said that he has been hunting ever since he retired for the best way to break into the business world. He poked around in venture capital. But after investing in BBQGuys, it seems Manning began to build rapport with BVP, attending a few meetings of the firm’s investors. He also said that he was attracted by BVP’s commitment to share 10% of their interest with employees of their portfolio companies, an unusual arrangement in private equity that gives workers a more direct stake in the success of their employers.
“Allie’s shared enthusiasm for supporting the employees of our portfolio companies makes them the perfect fit for what we’re trying to achieve,” Austin Ramos, founding partner of BVP, said in a statement.
Based in New York, BVP was founded just three years ago, and has no track record yet. To date, most of its investments have been in the grilling space, with Blaze Outdoor Products and Magma joining BBQGuys in the firm’s portfolio.