23 Capital

What 23 Capital does

23 Capital is a privately held, London-based capital and asset management platform that operates exclusively as a principal lender to the global sport sector. The firm structures bespoke debt and structured finance solutions for sport enterprises — most visibly professional football clubs and sport federations or leagues — across five core products: Transfer Receivable Finance, Broadcast Rights Monetisation, Balance Sheet Financing (senior to mezzanine), All Asset Structured Facilities, and Short-Term Facilities. Disclosed deal sizes range from £60m to €125m, and the firm has cumulatively deployed more than $1.6bn into the sport ecosystem across 69+ closed transactions and 250+ assessed opportunities.

Revenue is generated through two streams: principal lending and debt finance (interest income plus arrangement and structuring fees on transactions ranging from traditional asset-based and off-balance-sheet lending to highly customised structured buyout financings), and asset management (fees on capital managed and deployed on behalf of clients). Pricing is negotiated transaction-by-transaction with no publicly disclosed schedule. The go-to-market is enterprise field sales, driven by direct relationships with sport-sector decision-makers rather than intermediated distribution; the firm cites an 80% client retention rate as evidence of relationship durability.

The leadership team combines structured credit, fintech operating, and top-club financial leadership: founding partner Jason Traub (over 13 years leading Investec Bank's sport, media & entertainment structured credit team; personally oversaw $2bn+ of football deals), founding partner Jack Trowbridge (ex-CEO of a private credit fintech platform, exited in 2019), and partner Pancho Schröder (former Head of Finance and Corporate Director at FC Barcelona, originator of the first USPP issue by a European football club and architect of an €850m investment-grade stadium financing). The entity is registered in England and Wales as 23 Capital Sports Limited (company number 16300913) and is ICO-registered (ZB901229). There is no app, no public API, no disclosed AI capabilities, and no subsidiaries or parent company.

Name

23 Capital

Legal name

23 Capital Sports Limited

Website

https://23-cap.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

23 Capital is a London-based principal lender and asset manager that provides bespoke debt and structured finance solutions exclusively to sport-sector clients, including football clubs, federations, and leagues, across products such as transfer receivable finance, broadcast rights monetisation, and balance sheet financing.

Ownership category

akta.pro rank

Product category

Sport Finance / Specialized Lending

NAICS

Credit Intermediation and Related Activities (522), Sales Financing (522220)

SIC

Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Large-Cap / Sponsor Finance Direct Lending (FSANADAJ)

Keywords

• Sport finance lending
• Transfer receivable finance
• Broadcast rights monetisation
• Structured credit solutions
• Asset management platform

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Principal Lending and Debt Finance: The firm provides strategic debt capital solutions as a principal lender, structuring transactions across traditional asset-based and off-balance-sheet lending facilities to highly customized structured buyout financings. Revenue is generated through interest income, arrangement fees, and structuring fees on financed transactions.
2. Asset Management: Sport finance and asset management platform managing capital deployment into the sport ecosystem. The firm generates fees from managing and deploying capital on behalf of clients.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

23 Capital is a dedicated sport finance and asset management platform that provides strategic debt capital solutions exclusively to the global sport sector. Acting as a principal lender, the firm structures transactions ranging from traditional asset-based and off-balance-sheet lending facilities to highly customised structured buyout financings, offering products such as transfer receivable finance, broadcast rights monetisation, balance sheet financing, all-asset structured facilities, and short-term facilities for football clubs, federations, and leagues.

Product overview

23 Capital operates as a dedicated sport finance and asset management platform offering a suite of capital solutions exclusively for the global sport sector. The platform provides strategic debt capital through five integrated products: Transfer Receivable Finance (enabling upfront payment for player transfers), Broadcast Rights Monetisation (leveraging future media income), Balance Sheet Financing (senior to mezzanine debt structures), All Asset Structured Facilities (multi-asset secured financing), and Short-Term Facilities (immediate liquidity solutions). These products work together to address the full spectrum of sport enterprises' capital needs, from traditional asset-based lending to highly customised structured buyout financings.

Differentiator

Problem solved

Functional benefit

Products and services

• Transfer Receivable Finance
• Broadcast Rights Monetisation
• Balance Sheet Financing
• All Asset Structured Facility
• Short-Term Facility

Quantifiable outcome

• 80% client retention rate reflecting trust and satisfaction
• +3 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Arctos Sports Partners: North America-based private equity firm exclusively focused on the sports industry, investing across team ownership, leagues, and sports-related businesses. Highly comparable to 23 Capital as a specialist sport-focused capital provider, though Arctos is equity-focused where 23 Capital primarily lends.
• Bruin Capital Partners: Sports and entertainment-focused private investment firm providing capital solutions to rights holders, teams, and sport-related businesses. Closely comparable to 23 Capital as a specialist capital provider serving the global sport ecosystem with bespoke solutions.

Broad incumbents

• CVC Capital Partners: Global private equity firm with a major sport investment franchise, including controlling stakes in La Liga, Formula 1 (historical), and rugby and volleyball governing bodies. Comparable to 23 Capital as a sport-focused capital provider, but at much larger scale and primarily via equity/control investments.
• Investec Bank: International specialist bank and wealth manager where founder Jason Traub built and led the structured credit team's sport, media and entertainment division for 13 years. Directly comparable to 23 Capital as a sport sector lending institution, though Investec operates a much broader banking franchise.
• Apollo Global Management: Global alternative asset manager with significant direct lending and private credit capabilities, including exposure to sports lending. Comparable to 23 Capital in providing structured capital to sports assets, but with vastly larger scale, broader credit platform, and lower cost of capital.
• KKR: Global investment firm with an established private credit platform and notable sport-related investments. Comparable as a large-scale alternative credit provider that increasingly competes for sports lending mandates that 23 Capital would otherwise serve.
• Ares Management: Major global alternative asset manager with one of the largest direct lending franchises. Comparable to 23 Capital as a provider of structured credit to businesses, including increasingly to sports assets where Ares has built sector specialisation.
• Sixth Street Partners: Global investment firm with a large direct lending and sports finance practice, including marquee stadium and team financings (e.g., sponsorship and asset-backed deals across European football). Comparable to 23 Capital in sport-focused credit origination.
• Pemberton Asset Management: European-focused private credit and direct lending platform serving mid-market and large corporates. Comparable to 23 Capital as a specialist credit provider targeting European borrowers with structured solutions.
• Hayfin Capital Management: European alternative credit manager providing direct lending, special situations, and structured credit to mid and large-cap companies. Comparable to 23 Capital as a London-headquartered specialist credit platform serving European borrowers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/23_Capital

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 23 Capital