1/ST Racing invests $7 million to help MyRacehorse grow

MyRacehorse, the company that shares microshares in Thoroughbreds, has raised $7 million through a group of investors led by 1/ST through its racing and gaming and technology divisions.

“This is the ultimate strategic partnership,” Myracehorse founder and CEO Michael Behrens said in a news release. “Having 1/ST Racing & Gaming and 1/ST Technology as the lead investors not only provides us the capital to accelerate growth, but the strategic assets and access to enhance the ownership experience for our 50,000-plus racehorse owners.”

Behrens also is CEO of Experiential Squared, Myracehorse’s parent company.

“1/ST’s mission to introduce and engage the next generation of fans and owners in innovative and entertaining new ways aligns perfectly with the MyRacehorse concept,” 1/ST Racing and Gaming CEO Aidan Butler said in the release. “The ability to become an owner of a Thoroughbred racehorse and to be part of an ownership experience that until now has been inaccessible for many, is truly exciting. We have seen firsthand the success of MyRacehorse and we look forward to helping scale this platform across racing, wagering and beyond.”

MyRacehorse was launched in 2018 and currently has more than 50000 active owners and 100 active horses who have won more than 160 races around the world with earnings of more than $20 million. The horses in which it owns a stake include Authentic, the 2020 horse of the year.

Recently, E2 began the process of seeking strategic investors to help the business accelerate its growth with a focus on diversifying into other sports and assets, according to the release.

“I don’t need to use this money to subsidize operations or things of that nature,” Behrens told Forbes. “So I’m going to spend most of the energy and the time working with 1/ST to really reimagine what fractional ownership can be.”