Kiro Race Co has expanded its ownership to include a group of global business and sports investors and leaders. The powerhouse investment group includes exciting names, led by Golden Globe-winning actor Idris Elba, who you may know from the famous series The Wire or Luther.
Idris Elba stated:
“The team’s vision for the future, desire to innovate, and commitment to excellence resonate with me on a deep, personal level, and I’m looking forward to playing my part in its journey to the front of the grid.”
The move comes after Kiro Race Co was acquired by The Forest Road Company, based in Los Angeles, last October, and after it secured a multi-year title partnership with the Spanish automotive brand CUPRA. This development signals that, after scoring points during their debut at the São Paulo E-Prix in December, Kiro is determined to become a leader in Formula E and beyond.
The full list of investors is as follows:
- Idris Elba – Golden Globe winning actor, producer, and music artist
- David Kaplan – Lead Investor, and Team Managing Partner of Kiro Race Co
- Bennett Rosenthal – Lead Managing Owner of the Los Angeles Football Club
- Tony Ressler – Principal Owner of the Atlanta Hawks
- Larry Berg – Senior Partner of 26 North, and Co-Managing Owner of the Los Angeles Football Club
- Shaun Neff – Co-Founder of Beach House Group, Co-Owner of SUNBUM, the Los Angeles Football Club and X Games, and Founder of Neff Headwear
- Navid Mahmoodzadegan – Co-Founder and Co-President of Moelis & Company
- Steve Bornstein – President of North America at Genius Sports, and Former President and CEO of ESPN and the NFL Network
- Rick Hess – Senior Advisor at The Forest Road Company, and Co-Founder of Evolution Media
- Jeffrey Assaf – Senior Managing Director and Chief Investment Officer of ICG Advisors
- Caleb Kramer – Strategic Advisor at The Forest Road Company, and Former Managing Director and Portfolio Manager at Oaktree Capital Management
- Michael Woronoff – Partner of Kirkland & Ellis LLP
Together, they share a passion for business, media, sports and entertainment in various forms. The diversity of the group shows that Kiro Race Co is entering a new era as it continues growing. The investors believe that Formula E holds immense potential and is increasingly appealing from a commercial standpoint as well. Each member brings a different perspective from their field, which can only help Kiro grow and enhance fan engagement.
This move signals that motorsport is entering a new chapter focused on innovation and entertainment. Brands from different industries, including business and finance, recognize the potential of an all-electric championship to bring together fans and generate capital. Together with this investment group, the American team, formerly known as ERT, can build a global brand that is recognizable, competitive and focused on the fan experience.
Jeff Dodds, CEO of Formula E, added:
“[…] This impressive group brings unparalleled expertise and a diverse, well-rounded perspective that will catalyse growth not just for the team, but for the entire championship.“