The Pro Cyclist Foundation, with funding support from Black Swift Group, is leading a ‘new breed of investment’ to support the USA Cycling Foundation and other cycling focused organizations.
Black Swift is a Boulder, Colorado-based SEC-registered investment firm. It is working with the Pro Cyclist Foundation, which has a mission to provide support on and off the bike for athletes to achieve the highest goals in the sport.
While the non-profit foundation was built to provide all levels of support – including wellness, career and overall guidance for athletes – it is developing a new funding model with Black Swift.
Black Swift launched an investment fund in June 2020, where a portion of the management fees go towards the Pro Cyclist Foundation’s budget. The foundation, launched in 2020, has already donated over US$350,000 to various cycling development programs including HotTubes, Lux, Aevolo, Twenty24, Onto, USA Cycling MudFund and the USA Cycling Foundation.
“Through the creation and support of the Pro Cyclist Foundation, our goal is to work directly with established organizations at the forefront of supporting rider well-being and development such as the USA Cycling Foundation,” said Greg Casals, Chief Investment Officer at Black Swift.
“We understand the structure of the sport, its limitations, and intend to improve on existing challenges that prohibit athletes from reaching their potential. The USA Cycling Foundation’s support of America’s greatest athletes is vital to competitive cycling. Winning World Championships and Olympic medals will motivate future generations in the sport; and we want to make sure the funding is there to support them.”
Former USA Cycling National Team member Brent Bookwalter recently joined the Pro Cyclist Foundation as Vice-Chairman. Bookwalter is an Olympian and long-time member of Team USA, racing in 11 grand tours for World Tour teams during his long career.
“As a graduate of the USA Cycling development program and National Team, I look forward to using my experience and networks to support those who come after me in these programs,” Bookwalter said. “In 2022 we plan to establish direct athlete support programs that will have a powerful impact on the careers, performances and wellness of athletes.
“I’ve spent my entire life racing at every level of the cycling world, and I have seen first-hand the genuine need for support at every level. I’m really excited and honoured to play a role in offering that assistance and guidance.”
The USA Cycling Foundation and the USA Cycling MudFund have both been recipients of gifts through the Pro Cyclist Foundation’s contributions. As Black Swift grows its fund, more money is expected to become available to support athletes and teams.
In October 2021 the fund created by Black Swift to support the Pro Cyclist Foundation was nominated for Best Newcomer Equity Hedge Fund by the HFM | Hedge fund data and intelligence platform. The HFM US Performance Awards recognizes the best performing funds and rewards those with industry-wide recognition.
www.usacycling.org/foundation
www.blackswiftgroup.com
www.procyclistfoundation.org
