Loud Capital, Chicago Bulls running pitch contest
Columbus-based Loud Capital is making noise in the Windy City by teaming with the Chicago Bulls to sponsor a pitch showdown there.
Five finalists will be chosen from video entries for a live pitch round in early spring. The winner will be announced at a Chicago Bulls game in March or April 2020; the winner will earn $50,000 in Loud investment and services.
“Our philosophy is to provide value beyond capital, especially supporting businesses that have a social impact,” Navin Goyal, co-founder and CEO of Loud Capital, says in a release.
Loud opened its Chicago office last October, catching the attention of the Bulls management, which was looking for new ways to have community impact.
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The Bulls aren’t the first major league team to venture into VC. The Los Angeles Dodgers launched an accelerator in 2015, and the Philadelphia 76ers collaborated with local accelerators to launch the Sixers Innovation Lab in 2016.
Loud also has other ties to entertainment brands. In March, it launched Legacy Entertainment Ventures, which provides services to music, esports celebrities and other influencers.
Cynthia Bent Findlay is a freelance writer for Columbus CEO.