Elevate Launches $500M Fund to Modernize College Athletics

Elevate, a sports and entertainment consulting firm, has launched a $500 million College Investment Initiative backed by private equity firm Velocity Capital Management and the Texas Permanent School Fund to provide collegiate athletics departments with capital for revenue-generating projects such as stadium renovations, premium seating expansions, multimedia rights development, and name, image, and likeness (NIL) platforms. The initiative offers an alternative to traditional loans or bonds by providing long-term, debt-like financing that is repaid through a share of incremental future revenues, without taking equity stakes in the athletic departments. Elevate has already closed multiple eight-figure deals with Power Four universities and expects to complete several more deals ahead of the college football season. This funding aims to help cash-strapped athletic departments manage increasing expenses, especially following a recent $2.8 billion antitrust settlement allowing schools to pay athletes directly starting in the 2025-26 school year. Elevate leverages its expertise and partnerships, including with the San Francisco 49ers, to provide strategic and operational consulting alongside the capital. The initiative represents a significant institutional investment in college sports, supporting long-term growth through professionalized rights monetization and enhanced fan experiences.