Astralis Capital Management Appoints Adam Kaplan as General Partner

Kaplan Brings 16 Years of Industry Experience

Astralis focuses on the digital transformation of global sports and gaming, making Kaplan’s background a close match for the firm’s strategic direction. His career includes 16 years in senior roles across sports betting, fantasy sports, streaming, analytics, and technology.

Kaplan is also the Managing Partner of Kaplan Ventures, an investment firm with a portfolio that includes PrizePicks, Underdog, BetDex Labs, Bettor Capital and POW! Interactive.

“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,” said Tisno Ongarra and Evan Meyer, Managing Partners of Astralis,

Leadership Roles at SportsGrid and FanDuel

Kaplan’s most recent executive role was at SportsGrid, where he served as Chief Operating Officer and Board Observer. SportsGrid, a 24-hour streaming network dedicated to live sports wagering, expanded significantly during his tenure. Its distribution footprint grew to more than 250 million monthly active users, while the platform delivered over 200 million sessions and 27 million hours watched in 2024.

Before joining SportsGrid, Kaplan worked at FanDuel Group as General Manager and Vice President of Content. He oversaw content strategy and P&L across the company’s portfolio, including Sportsbook, Fantasy, Casino, TV and other verticals. During this period, FanDuel generated billions in annual revenue, launched Sportsbooks in 12 states and iCasino in four, and expanded Fantasy sports to 44 states and horse racing to 31.

His earlier experience includes serving as Chief Operating Officer at numberFire, a sports analytics platform acquired by FanDuel in 2015. He began his career at Yext, where he was one of the company’s first 25 employees and worked as Director of National Accounts & Strategic Partnerships.

A Shared Investment in PrizePicks

Kaplan’s relationship with Astralis also runs through a joint investment interest. Both Astralis and Kaplan — via Kaplan Ventures and a special purpose vehicle — are investors in PrizePicks. The company recently confirmed that Allwyn International will acquire a majority stake at a $2.5 billion valuation, with the deal potentially increasing to $4.15 billion depending on performance milestones. The acquisition is expected to close in the first half of 2026, subject to regulatory approvals.

“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,” said Evan Meyer.

Kaplan on Joining Astralis

Kaplan described the timing of his move as aligning with a period of major industry change.

“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,” he said.