Astralis Capital Management (“Astralis”), a venture capital firm with a dedicated focus on the digital transformation of the global sports and gaming industry, has announced the addition of Adam Kaplan as a General Partner.
Kaplan brings over 16 years of distinguished operational leadership, investment acumen, and strategic advisory experience garnered from working with industry-leading companies in the sports, gaming, media, and technology sectors.
Kaplan currently serves as the Managing Partner of Kaplan Ventures, a venture capital firm boasting a portfolio that includes significant investments in key industry players such as PrizePicks, Underdog, BetDex Labs, Bettor Capital, and POW! Interactive.
His extensive executive background includes a notable tenure as Chief Operating Officer and Board Observer at SportsGrid, the 24-hour streaming video network dedicated to live sports wagering. During his time at SportsGrid, the network achieved substantial scale, reaching over 250 million monthly active users, securing the rank of the number one sports-genre FAST channel, and logging more than 200 million sessions in 2024.
Prior to SportsGrid, Kaplan held the position of General Manager and Vice President of Content at FanDuel Group, a subsidiary of Flutter Entertainment and the leading online gaming company in the U.S. In this crucial role, he was responsible for content strategy and P&L oversight across FanDuel’s diverse brand portfolio, including its Sportsbook, Fantasy, Casino, and TV verticals.
Under his leadership, the company generated billions in annual revenue and successfully launched Sportsbooks in 12 states and iCasino in 4 states. Kaplan’s earlier career also includes serving as Chief Operating Officer at numberFire, a sports analytics platform acquired by FanDuel in 2015, and an early role at Yext.
The appointment comes as Astralis prepares for the launch of its Astralis Fund II LP. Both Astralis and Kaplan (through Kaplan Ventures and an SPV) share an investment in PrizePicks, a company that recently announced a majority stake acquisition by Allwyn International at a $2.5 billion valuation, with potential to increase to $4.15 billion based on performance.
The acquisition is expected to conclude in the first half of 2026, subject to regulatory approvals.
Tisno Ongarra and Evan Meyer, Managing Partners of Astralis:
“We are thrilled to welcome Adam to the partnership. 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.”
Evan Meyer:
“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.”
Adam Kaplan:
“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.”
