Oakley Capital invests in Athena Racing

Oakley Capital Investments Limited

23 December 2025

 

23 December 2025  

Oakley Capital Investments Limited

Oakley Capital Investments Limited¹ ("OCI") is pleased to announce that Oakley Capital Origin Fund II² ("Origin II") is investing in Athena Racing ("Athena"), the world-class sailing franchise founded and led by Sir Ben Ainslie, the most successful sailor in Olympic history.

OCI's indirect contribution via Origin II is anticipated to be up to c.£13 million once fully funded, which relates to OCI's share of Oakley's investment in Athena. 

Further details on the transaction can be found in the below announcement from Oakley Capital³.    

Oakley Capital invests in Sir Ben Ainslie's Athena Racing

Oakley Capital, a leading pan-European private equity investor, is pleased to announce that Oakley Capital Origin II ("Origin II") is investing in Athena Racing ("Athena"), the British America's Cup team and world-class sailing franchise founded and led by Sir Ben Ainslie, the most successful sailor in Olympic history.

Oakley's investment follows the creation of the landmark America's Cup Partnership (the "Partnership") which will govern the America's Cup. The Partnership is expected to enhance the commercial appeal and investability of the world's most prestigious high-performance sailing competition. Oakley played a central role in shaping this new framework, under which the five founding teams, including Athena, will sit in an equal partnership position.

The America's Cup combines heritage with advanced technology, elite sport, and strong commercial appeal. First contested with a race around the Isle of Wight in 1851, the Cup is widely recognised as the oldest international trophy in world sport, predating the modern Olympic Games and the FIFA World Cup. The contest stands as one of sport's most demanding technical challenges, with only four nations- New Zealand, Australia, the United States and Switzerland- lifting the trophy across its 174-year history.

The new Partnership marks a major step forward, pairing the Cup's legacy with a more modern and commercially focused structure. It gives all teams board representation, establishes neutral, professional management to drive audience and revenue growth, introduces cost-control measures to create a more competitive field, and sets a stable biennial calendar to support long-term investment, positioning the Cup as a leading, global sports property.

Oakley's investment in Athena reflects its strong belief in the enduring appeal and growth potential of premium sports properties. The new partnership enables Athena to pursue a multi-cycle strategy across future America's Cup contests, with longer-term sponsorship deals, R&D investment, and talent acquisition. Oakley will support Athena Racing by accelerating commercial partnerships, expanding brand visibility, and scaling operations.

In addition, Athena Racing and sister company Emirates GBR, representing Britain in the fast-growing SailGP league, a separate nation vs. nation global sailing competition, will collaborate to create a unique proposition for sponsors and sailors in elite competitive sailing.

Peter Dubens, Co-Founder and Managing Partner, Oakley Capital, said: "The America's Cup is the pinnacle of sailing and an icon of sport, won by only four nations since 1851. We're partnering with Sir Ben and the Athena team precisely as the Cup enters a new era. With strong governance and a neutral management team focused on audience and media growth, the competition is set to broaden its appeal, improve accessibility and ensure long-term sustainability."

Sir Ben Ainslie, Founder & Team Principal, Athena Racing, said: "I'd like to pay credit to Oakley for the critical role they have played in helping Athena and the other teams to shape this new partnership for the America's Cup. Previously a Defender-led, winner-takes-all format, the Cup now moves into a unified chapter that gives every team a seat at the table and a shared focus on commercial growth and continued technical innovation. With Oakley's backing and expertise, and by drawing on the next generation of sailors with our Athena Pathway programme, Athena is well-positioned to help grow the Cup into one of the world's most iconic and commercially successful sporting properties."

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For further information please contact:

Oakley Capital Limited

[phone]

Steven Tredget

Greenbrook

[phone]

Rob White / Michael Russell / Theo Bryan

Deutsche Numis (Financial Adviser & Broker)

[phone]

Nathan Brown / Matt Goss

¹ About Oakley Capital Investments Limited ("OCI")

OCI is a closed-ended investment fund trading on the main market of the London Stock Exchange as an Official List Company. OCI aims to provide shareholders with consistent long-term capital growth in excess of the FTSE All-Share Index by providing liquid access to private equity returns through investment in the Oakley Funds.

A video introduction to OCI is available at https://oakleycapitalinvestments.com/videos/

The contents of the OCI website are not incorporated into, and do not form part of, this announcement.

² The Oakley Funds

Oakley Capital Private Equity II, Oakley Capital Private Equity III, Oakley Capital IV, Oakley Capital V, Oakley Capital VI, Oakley Capital Origin and Oakley Capital Origin II are unlisted lower-mid to mid-market private equity funds that aim to provide investors with significant long-term capital appreciation. The investment strategy of the Funds is to focus on buy-out opportunities in industries with the potential for growth, consolidation and performance improvement. The Oakley family of funds also includes Oakley PROfounders Fund III and Oakley Touring Venture Fund, which are venture capital funds focused on investments in entrepreneur-led, disruptive, technology led companies.

³ Oakley Capital, the Investment Adviser

Founded in 2002, Oakley Capital Limited has demonstrated the repeated ability to source attractive growth assets at attractive prices. To do this it relies on its sector and regional expertise, its ability to tackle transaction complexity and its deal generating entrepreneur network.

Important information

Oakley Capital Investments has now been admitted to the Official List of the Financial Conduct Authority. Therefore, the Company is now required to satisfy the eligibility criteria for admission to listing on the Official List is required to comply with the Financial Conduct Authority's Listing Rules, including in relation to transactions with related parties, financial reporting, contents of shareholder circulars and other continuing obligations.

This announcement may include "forward-looking statements". These forward-looking statements are statements regarding the Company's objectives, intentions, beliefs or current expectations with respect to, amongst other things, the Company's financial position, business strategy, results of operations, liquidity, prospects and growth. Forward-looking statements are subject to risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future.  Accordingly the Company's actual future financial results, operational performance and achievements may differ materially from those expressed in, or implied by, the statements. Given these uncertainties, prospective investors are cautioned not to place any undue reliance on such forward-looking statements, which speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the Company's expectations with regard to them or any change in events, conditions or circumstances on which any such statements are based unless required to do so by the Financial Services and Markets Act 2000, the Listing Rules or Prospectus Regulation Rules of the Financial Conduct Authority or other applicable laws, regulations or rules.

 

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