SeventySix Capital raising new fund with sports owners, athletes as investors and a Pittsburgh twist

Philadelphia-based venture firm SeventySix Capital has closed an initial round of a fund that will focus on sports betting, esports and sports tech companies, attracting an investor roster that includes Pittsburgh Pirates owner Bob Nutting, Atlanta Falcons owner Arthur Blank and retired NFL running backs DeMarco Murray and Brian Westbrook. The fund is expected to raise at least $50 million. It comes on the heels of the sale earlier this year of three of the firm’s portfolio companies: Sports betting…