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The owners of the NFL's San Francisco 49ers are making a notable entry into the venture capital world with the launch of a debut fund aimed at raising $50 million, as revealed in a recent regulatory filing. The driving force behind this move is Jed York, the managing partner and CEO of the 49ers franchise, who has been quietly investing in startups since 2014 through his family office's VC firm, Aurum Partners. Aurum has previously backed successful startups such as Allbirds, Carrot, and Squire. However, the launch of the fund coincides with allegations of insider trading involving York during his tenure as a board member for edtech startup Chegg. Despite these controversies, the filing indicates Aurum's intent to engage external investors for the first time, marking a significant departure from their traditional investment approach.
