Astralis Capital Taps Adam Kaplan as General Partner

Extensive Operational Leadership and Investment History

Kaplan brings a strong background in scaling major industry players and making strategic investments.

Kaplan is the Managing Partner of Kaplan Ventures, his personal investment vehicle. Its portfolio includes high-profile companies like PrizePicks, Underdog, BetDex Labs, and Bettor Capital.

Astralis and Kaplan have an existing relationship through a shared interest in PrizePicks. Both entities, including Kaplan Ventures, invested in the daily fantasy sports operator. PrizePicks recently agreed to a majority stake acquisition by Allwyn International. This deal values PrizePicks at $2.5 billion, with a potential increase to $4.15 billion if the company meets performance goals. The sale is expected to close in the first half of 2026, subject to regulatory approval.

Kaplan held a key leadership role at FanDuel Group, a subsidiary of Flutter Entertainment plc. As General Manager and Vice President of Content, he oversaw the content strategy and financial performance across all FanDuel verticals, including Sportsbook, Fantasy, Casino, and TV. During his tenure, the company generated billions in annual revenue and expanded operations, launching Sportsbooks in 12 states and iCasino in 4 states.

Immediately prior to joining Astralis, Kaplan served as Chief Operating Officer (COO) and Board Observer at SportsGrid. This 24-hour streaming network focuses on live sports wagering content. Under his operational leadership, SportsGrid reached over 250 million monthly active users. The network was the top-ranked FAST (Free Ad-supported Streaming TV) channel in its sports genre, recording over 200 million sessions in 2024. Earlier in his career, he was COO at numberFire, a sports analytics platform acquired by FanDuel in 2015.

Astralis Aims for Fund Expansion

Astralis leaders emphasized that Kaplan is an ideal fit as the firm prepares for its next phase of growth.

Managing Partners Tisno Ongarra and Evan Meyer stated they were “thrilled to welcome Adam to the partnership.” They highlighted his deep operational expertise and proven investment track record in scaling high-growth companies. The addition aims to bolster Astralis’s ability to identify and support the “next generation of category-defining businesses.”

Meyer noted that the successful, overlapping work on the PrizePicks investment made Kaplan a perfect match as they prepare to launch Astralis Fund II LP. Kaplan stated he is “excited to be joining Astralis at such a critical time” when innovation and disruption are prevalent across the gaming and sports sectors. He plans to work with the team to help innovative companies reach their “full potential.”