Startups > Next Play Capital

Next Play Capital

Next Play Capital connects accredited investors with exclusive venture funds and companies.

Venture Fund $450M AUM total Founded 2014 Redwood City, California 23 employees

Next Play Capital is a venture capital fund of funds and SPV platform that invests in access-constrained venture funds and venture-backed companies across consumer, fintech, and IT/SaaS. Founded by former NFL athletes and seasoned tech investors, the firm leverages a unique community of professional athletes, executives, and entrepreneurs to provide LP access to typically restricted investment opportunities. As of May 2023, the firm merged with Legacy Venture to become Next Legacy Partners, though it continues operating under the Next Play Capital brand. The firm manages approximately $450M in assets under management across three flagship funds and 24+ SPVs.

Problem solved

Accredited investors and professional athletes lack access to high-quality venture capital funds and early-stage companies that restrict LP participation.

Target customer

Accredited investors and limited partners seeking exposure to venture capital funds and portfolio companies; minimum check size $100K, sweet spot $1.5M

Website LinkedIn Crunchbase Twitter / X

Founders

Ryan Nece

Co-Founder & Managing Partner

Former NFL linebacker who played six seasons with the Tampa Bay Buccaneers and one with the Detroit Lions; co-founded the firm in 2014 with focus on athlete-backed venture investing.

Funding history

Fund III (Flagship) $200M October 13, 2022 Led by Unknown · Limited partnership structure; investors include professional athletes, entrepreneurs, and institutional LPs

Total raised: $450M AUM

Industries

Financial Services FinTech Impact Investing Venture Capital

Pricing

Not publicly available. Limited partnership structure for accredited investors. Portfolio company check sizes range from $100K to $5M with optimal check size around $1.5M.

Notable customers

Coinbase, Carta, Peloton, StubHub, Chime, NorthOne, La Haus, HANDLE Global, Peloton

Integrations

SoftBank Vision Fund (co-investment partnership), Kaiser Permanente Ventures, Battery Ventures

Tech stack

AngularJS (JavaScript frameworks) scrollreveal (JavaScript libraries) Moment.js (JavaScript libraries) Marked (JavaScript libraries) Lodash (JavaScript libraries) Google Analytics (Analytics) Nginx (Reverse proxies) Google Workspace (Email) Google Tag Manager (Tag managers) Google Remarketing Tag (Retargeting) GoDaddy (Hosting)

Website

nextplaycapital.com/

Competitors

Greenspring Associates

Larger global fund of funds ($12B+ AUM) without focus on athlete/sports community network access.

Traditional Fund of Funds Managers

Next Play Capital differentiates through unique LP base of professional athletes and entertainment luminaries providing network-based access to restricted funds.

Why this matters: Next Play Capital represents an innovative intersection of venture capital and athlete wealth, using sports luminaries as distribution and network access for what would otherwise be inaccessible institutional investments. The firm's $450M AUM and track record of 12 unicorns demonstrates that alternative investor bases can compete effectively in venture markets while creating meaningful secondary communities.

Best for: Accredited investors, professional athletes, and high-net-worth individuals seeking curated access to exclusive venture capital funds and pre-IPO companies across consumer, fintech, and SaaS sectors.

Use cases

Athlete Investment Syndication

Professional athletes leverage Next Play Capital's platform to co-invest alongside institutional VCs in portfolio companies like Coinbase and Peloton, gaining both financial returns and board-level insights without traditional VC firm friction.

Access-Constrained Fund Investment

High-net-worth individuals and corporate LPs gain exposure to top-tier venture funds that typically have closed investor lists, using Next Play Capital as an intermediary that pools capital and negotiates favorable terms.

Emerging Manager Support

The firm identifies and co-invests with emerging venture managers, providing them with additional LP capital and access to the Next Play Capital network of entrepreneurs and executives for portfolio support.

Alternatives

AngelList Syndicate Lower-ticket SPV platform focused on angel-stage startups; Next Play Capital targets institutional fund investments and Series B+ companies with higher minimums.

SoftBank Vision Fund Direct late-stage venture investor with massive scale; Next Play Capital operates as a more curated fund of funds focused on access and community rather than direct mega-round deployment.

FAQ

What does Next Play Capital do? +

Next Play Capital is a venture capital fund of funds and SPV platform that invests in access-constrained venture funds and venture-backed companies. The firm leverages a unique community of professional athletes, entrepreneurs, and investors to provide LP access to investment opportunities that typically restrict participation. It manages approximately $450M in assets across three flagship funds and 24+ special purpose vehicles.

How much does Next Play Capital cost? +

Pricing is not publicly available as the firm operates as a limited partnership for accredited investors. Portfolio company check sizes range from $100K to $5M, with an optimal check size around $1.5M. Contact the firm directly for LP terms and minimums.

Who are the founders of Next Play Capital? +

Next Play Capital was founded in 2014 by former NFL athletes and seasoned tech investors. Ryan Nece, a former NFL linebacker who played for the Tampa Bay Buccaneers and Detroit Lions, is co-founder and managing partner. The firm was created to democratize access to venture capital for professional athletes and high-net-worth individuals.

What notable companies has Next Play Capital invested in? +

The firm's portfolio includes 12 unicorns, 11 IPOs, and 11 acquisitions. Notable investments include Coinbase, Carta, Peloton, StubHub (NYSE IPO 2025), Chime (NASDAQ IPO), NorthOne, and La Haus. Recent exits include Step's acquisition by MrBeast in February 2026.

Is Next Play Capital still operating independently? +

As of May 2023, Next Play Capital merged with Legacy Venture to become Next Legacy Partners. The firm continues to operate and invest under the Next Play Capital brand while leveraging the combined entity's resources and expertise.