Former Monumental Sports & Entertainment Exec VP GREG BIBB has launched Capital Sports Ventures, a venture capital fund "targeting sports and lifestyle properties, with backing from veteran sports investor FRED SCHAUFELD's SWaN and Legend Venture Partners," according to Ben Fischer of the WASHINGTON BUSINESS JOURNAL. Bibb also "recruited" former Greater Washington Sports Alliance VP CHRISTOPHER BROWNE as Managing Dir. Bibb believes that Capital Sports Ventures can "provide money, expertise or both to launch them to the next level." SWaN & Legend is the "primary backer, and Bibb and Browne also put up personal investments." SWaN & Legend Managing Partner DAVID BOSSERMAN also is "on board as a board member and adviser." Bibb and Schaufeld in '12 "tested their idea by bidding to buy a majority stake in D.C. United from previous owner WILL CHANG, a previously undisclosed play." Bibb "credited his former bosses at Monumental," specifically Monumental Founder, Chair & CEO TED LEONSIS and Monumental Vice Chair SHEILA JOHNSON, for being "enthusiastic and supportive" as he built up the idea (BIZJOURNALS.com, 4/23).
