The Peel with Turner Novak Roger Ehrenberg | Investing in Sports, 10x Funds, Traits of Top Founders, Current Seed Stage Market, Investing in Detroit
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Nov 6, 2025 Roger Ehrenberg, Co-founder of Game Changers Ventures and IA Ventures, dives into the world of seed-stage investing and sports ownership. He shares insights on how COVID transformed the sports landscape and the potential of innovative formats like the Tomorrow Golf League. Ehrenberg discusses the significance of real estate adjacent to stadiums and the evolving business models in sports. He also highlights traits of successful founders and gives valuable advice for emerging managers, emphasizing empathy and a drive to solve problems.
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Contrarian Seed Opportunity Outside Base-Model AI
- Seed is highly attractive if you avoid crowded AI base-model bets and focus on underinvested verticals like sports and entertainment.
- Roger sees technology as an input and founders as the drivers who will build valuable fan-centric applications.
Buying A Marlins Stake Changed His Focus
- Roger became a minority owner of the Miami Marlins during COVID and that opened sports dealflow to him.
- Owning franchises gave him practical insights and a network he now leverages for venture deals.
Two Distinct Sports Investment Paths
- Sports investing splits into franchise ownership and venture-backed tech around fandom and media.
- Roger's family office owns multiple teams while Game Changers targets tech that deepens fan relationships.