23 Capital, a capital and solutions provider for the sports, music and entertainment sectors (SME) headquartered in London, announced two senior appointments to lead US expansion efforts with the opening of offices in Los Angeles and New York.
David Pogoda and Mathew Carvajal will build on the company’s significant accomplishments already achieved to-date. Since its founding in 2014, 23 Capital has deployed and advised on over $2.2bn of transactions and has created the largest cross-border European football lending business in the world.
23 Capital has committed and partnership capital of over $2bn to invest across the SME sector. As a specialty finance platform, 23 Capital participates in transactions across the capital structure, and employs multiple investment strategies ranging from passive IP lending and project finance transactions, to highly structured corporate financings.
In late 2017, 23 Capital brought on two significant equity partners and transactional capital providers in Quantum Partners LP, a private investment fund managed by Soros Fund Management LLC (and its affiliates) and Corrum Capital alongside our founding shareholders, Candlewood Investment Group and Hudson Bay Capital, as well as established two senior lending facilities with leading financial service provider Credit Suisse.
David Pogoda is joining from Evolution Media Capital (EMC) the investment and advisory firm backed by Creative Artists Agency (CAA) and private-equity fund TPG Growth, where he was a Partner since its inception in 2008. While at EMC, David led a number of the firm’s largest M&A transactions and helped manage the firm’s growth equity fund across media and entertainment. For 23 Capital, David will lead its US business as Managing Director and Head of 23 Capital North America.
Mathew Carvajal has been appointed Managing Director after spending 10 years with J.P. Morgan’s Entertainment Industries Group. While at J.P. Morgan, Mathew specialized in highly structured financing and advisory assignments for filmed entertainment and music companies globally. Mathew is bringing significant transaction experience to the 23 Capital platform, and previously led some of the largest buyout financings across the independent media landscape.
Stephen Duval co-founder of 23 Capital comments, “As 23 Capital enters the North American market with new offices in Los Angeles and New York, we are delighted to have David and Mathew on board to help shape and build our business. Our clients require very specific knowledge of the sports, music and entertainment sectors, which when coupled with our ability to execute, creates a compelling proposition. Both David and Mathew have this essential sector expertise which will allow 23 Capital to maximize the opportunities presented by growth in the music, content and licensing sectors.”