Sports private equity firm Otro Capital and billionaire David Blitzer’s Bolt Ventures have made a minority investment in global sports marketing agency Two Circles. This investment follows Charterhouse Capital Partners' acquisition of a majority stake in Two Circles for £250 million (US$334 million) in January. Alec Scheiner, Otro partner and co-founder, will chair a newly created Two Circles North America operating board and join the global board of directors.

Two Circles, founded in 2011, leverages data insights to help leagues, teams, and brands grow their fanbase, revenue, and engagement. Its notable partners include the NFL, IOC, and Premier League. This marks Otro's second investment since its inception last year, having previously invested in the Alpine Formula One team.

In related news, global sports marketing agency rEvolution has acquired WePlay, which will become a wholly owned operating company within the rEvolution ecosystem. The acquisition aims to accelerate international expansion and offer more solutions to clients. rEvolution has worked with the ICC and France’s LFP, while WePlay has generated US$400 million in new revenue for rights holders, including clients like Fifa and UFC.

Scheiner expressed admiration for Two Circles' sophisticated, data-driven approach and significant growth. Balch, Two Circles' co-founder and CEO, praised Otro's understanding of technology's role in accelerating commercial returns for sports properties. The new investments from Otro and Bolt Ventures, along with continued backing from Charterhouse, are expected to expand Two Circles' reach and tech-enabled services across North America.

Two Circles plans to leverage this investment to expand its strategic opportunities in North America. It has already launched a new business vertical focused on college sports, aiming to help student-athletes capitalize on their name, image, and likeness (NIL) marketing rights.