RSE Ventures Research
Investment Thesis
RSE Ventures describes itself as "part investor, part incubator" — builders first. Founded in 2012 by Related Companies chairman Stephen M. Ross and former Miami Dolphins Vice Chairman Matt Higgins, the firm combines patient, founder-aligned capital with the strategic resources of Ross's and Higgins's operating network (real estate, sports franchises, media relationships) to elevate businesses at inflection points. RSE's public framing has recently expanded from "sports, entertainment, media, marketing, food and lifestyle, and technology" to a broader mandate spanning "national defense and industrialization to the intersection of sports, food, and culture," reflecting a 2026 push into defense tech alongside its legacy consumer and media bets.
Stage Focus
RSE does not publish a fixed stage mandate. In practice it invests across a wide range: incubating businesses from a founder's initial idea (International Champions Cup, Drone Racing League), leading early Series A rounds (Breakaway Music Festival's 2023 Series A), leading growth-stage strategic rounds for mature consumer brands (Brooklyn Dumpling Shop's 2025 growth round; Breakaway's ~$30M 2026 Series B), and making early-stage strategic investments in deep-tech/defense startups (FPF Defense, co-led with Ondas Inc. in July 2026). The unifying pattern is founder-led companies at an inflection point where RSE's operating network can accelerate scaling, rather than a single check-size or stage band.
Check Size
RSE does not disclose typical check sizes publicly, and most announced rounds omit financial terms (e.g., the FPF Defense investment was reported as "terms undisclosed"). The firm is solely financed by Stephen Ross's personal capital rather than a traditional LP-backed fund, which gives it flexibility to write both small incubation checks and larger growth rounds without a fixed fund-size ceiling.
Lead Tendency
RSE frequently leads or co-leads the rounds it participates in — it led Brooklyn Dumpling Shop's 2025 investment round, led Breakaway Music Festival's Series A, and co-led (with Ondas Inc.) the 2026 strategic investment in FPF Defense. Several of its highest-profile bets are incubations rather than passive investments, meaning RSE was involved from the founding idea (ICC, Drone Racing League, &pizza's growth strategy).
Recent Activity
- July 2026: Co-led (with Ondas Inc., NASDAQ: ONDS) a strategic investment in FPF Defense, a counter-UAS defense technology company led by former Acting Secretary of Defense Christopher C. Miller, developing the SmartFlak counter-drone system and Hammerhead interceptor. The deal was led on RSE's side by Nick Perkins, SVP of Defense & Industrialization.
- March 2026: Breakaway Music Festival closed a ~$30M Series B to fund global expansion, following RSE's 2023 Series A investment.
- July 2025: Led a new investment round in Brooklyn Dumpling Shop to accelerate growth across restaurants, consumer products, and foodservice; the brand's investor roster also includes Kevin O'Leary and the New York Yankees.
- RSE has been actively expanding its defense & industrialization vertical since early 2026, hiring Nick Perkins (a Green Beret veteran) as SVP to lead that effort — signaling a deliberate strategic pivot beyond its legacy sports/media/food portfolio.
Portfolio Highlights
RSE's "family" spans several categories:
- Food & consumer: Momofuku and Fuku (David Chang), Milk Bar (Christina Tosi), Magnolia Bakery, &pizza, Bluestone Lane, Tijuana Flats, Brooklyn Dumpling Shop
- Sports & entertainment: International Champions Cup (grew to 140M+ viewers in 2017), Drone Racing League, Breakaway Music Festival, and Ross's ownership of the Miami Dolphins
- Media & marketing: VaynerMedia/VaynerX (Gary Vaynerchuk), Derris (brand strategy for Warby Parker, Glossier)
- Technology & consumer tech: Resy (exited — acquired by American Express in 2019), Product Hunt, Napster, Dapper Labs, Thrasio, Omaze
- Defense & industrialization: FPF Defense (2026)
Team
- Stephen M. Ross — Co-Founder and Chairman. Chairman/Founder of Related Companies; owner of the Miami Dolphins; co-founded RSE with Matt Higgins in 2012.
- Matt Higgins — Co-Founder and CEO. Former Vice Chairman of the Miami Dolphins (2012–2021) and EVP of Business Operations for the NY Jets; Wall Street Journal best-selling author of "Burn the Boats"; Harvard Business School Executive Fellow; recurring "Shark Tank" guest shark.
- Stephen Reisert — Director, Investing and Portfolio Management.
- Nicholas ("Nick") Perkins — Senior Vice President, Defense & Industrialization. Green Beret veteran; joined RSE in early 2026 to build out the firm's defense-tech vertical and led the FPF Defense deal.
Decision Process
RSE operates as a founder-led partnership between Ross and Higgins, with vertical leads (e.g., Perkins for defense, Reisert for portfolio management) sourcing and running point on deals in their domain. As a privately financed firm (Ross's personal capital rather than a traditional fund structure), it can move without an investment-committee cycle typical of institutional VCs.
Founder Preferences
RSE consistently backs mission-driven founders with a strong, differentiated vision — David Chang, Christina Tosi, Gary Vaynerchuk, Nicholas Horbaczewski (Drone Racing League), and Charlie Stillitano (ICC) are all cited by RSE as partners it works to elevate rather than redirect. Founder testimonials on RSE's site emphasize that RSE "doesn't change your vision" and provides operating resources (marketing, real estate, media relationships) rather than just capital.
Geographic Focus
Primarily United States. RSE is headquartered in West Palm Beach, FL and Summit, NJ, with deep ties to the New York media/real estate ecosystem (Related Companies, NY Jets, Miami Dolphins) and Miami/South Florida.