Elevate is partnering with Velocity Capital Management and the Texas Permanent School Fund Corporation to launch the Collegiate Investment Initiative, per SBJ’s Ben Portnoy and Chris Smith, who add that two Power 4 schools have closed funding deals and that another three to six are expected to be completed by the start of the football season. The $500M fund “will provide a new funding source for collegiate athletic programs pursuing capital-intensive projects.” Elevate Chief Business Officer Jonathan Marks: “One of the needs that we've seen that's gone unfulfilled is the need for project-based or bridge capital that a school might not be able to achieve within the university debt structure or via bonds. We're looking more to provide debt-type capital or credit, [and] that ultimately we can help a school monetize that investment and that return on capital more than anyone else.” (link)