A good idea is not the same as having enough money to turn it into races, broadcasts, prize purses and a professional organisation.
That leap came in January 2020 when PTO announced Michael Moritz, through Crankstart Investments, as a financial partner.
The change was immediately visible in one number: more than $2 million in prize money was announced for the Collins Cup.
What is an investor? In this context, someone provides capital because they believe a project can grow in value. That money can fund staff, broadcasts, events and risk before the business produces enough revenue on its own.
Moritz would continue to invest through later stages as PTO evolved into T100 and deepened its relationship with World Triathlon.
Sources
Series: The money changing triathlon
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