Beverly Hills-based venture capital firm Astralis Capital Management has appointed Adam Kaplan as general partner, ahead of the launch of its Astralis Fund II.
Kaplan is the managing partner of Kaplan Ventures, a venture capital investment firm with a portfolio that includes PrizePicks, Underdog, BetDex Labs, Bettor Capital and POW! Interactive.
Both Astralis and Kaplan, through Kaplan Ventures as well as a special purpose vehicle, are investors in PrizePicks, which is in the process of being acquired by Allwyn International.
“We are thrilled to welcome Adam to the partnership,” said Tisno Ongarra and Evan Meyer, managing partners of Astralis. “His deep operational expertise, proven investment track record, and leadership in scaling high-growth companies make him an ideal addition to our team as we continue to identify and support the next generation of category-defining businesses.”
Earlier in his career, Kaplan served as chief operating officer and board observer at streaming video network SportsGrid, and also as general manager and vice president of content at FanDuel.
Meyer added: “Having worked closely with Adam on the PrizePicks investment and other overlapping themes, Tisno and I felt he was the perfect fit as we expand Astralis in advance of launching Astralis Fund II LP and thinking through adjacent investment strategies.”
Commenting on his appointment, Kaplan said: “I’m excited to be joining Astralis at such a critical time in the gaming and sports industries, with innovation and disruption happening everywhere.
“Tisno and Evan have proven track records as investors, and together with our partners, we will help the next wave of innovative gaming, sports, and technology companies reach their full potential.”
Current Astralis portfolio companies include PrizeOut, Forever Network, Strive Gaming, Takes, PlayAIO, and SGG Media.