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Angel Investor (Individual)

Investments

3

Portfolio Exits

2

About Patrick McKenna

Headquarters Location

540 Washington Street

San Francisco, California, 94111,

United States

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Latest Patrick McKenna News

NYRA plans to move Belmont Stakes to Saratoga during construction phase

Sep 7, 2023

NYRA plans to move Belmont Stakes to Saratoga during construction phase Spectators fill the Belmont Park grandstand for the horse races preceding the 2023 Belmont Stakes. Credit: James Escher By Brian Heyman brian.heyman@newsday.com Share The Belmont Stakes could be moving upstate for the next two years, and “The Test of the Champion” wouldn’t be as long of a test if it does make that move from Long Island. Belmont Park is headed for reconstruction following the approval of the state’s budget, which included a $455 million loan to NYRA for the project. So the third jewel in thoroughbred racing’s Triple Crown series is going to need a temporary home. NYRA wants it to be Saratoga. It will depend on regulatory approval. An announcement regarding next year’s race could be made in the coming months, possibly by November. NYRA had announced in June that it wanted to conduct the 2025 Belmont at Saratoga because of the anticipated construction timeline. The hope would be for the race to then return home in 2026. It also wouldn’t be practical to run the usual 1 1/2 miles because of the track length at Saratoga, so the race would likely be 1 1/4 miles. Sign up for our daily sports newsletter Get stories, photos and videos about your favorite New York teams in your inbox every morning. Sign up By clicking Sign up, you agree to our privacy policy . “While subject to the approval of both the Franchise Oversight Board and the New York State Gaming Commission, NYRA’s goal at this point is to hold the Belmont Stakes at Saratoga Race Course in both 2024 and 2025 to allow for the ongoing work at Belmont to continue uninterrupted,” said Patrick McKenna, NYRA’s vice president of communications. “This is the result of the progress made on significant capital improvement projects that are critical to the new Belmont Park, most notably the synthetic racing surface as well as the second infield tunnel, which will eventually provide access for horses to the synthetic surface.” Those improvement projects are separate from the rebuild that will feature the replacement of the clubhouse and the grandstand. The demolition hasn’t started. The construction timeline still needs to be finalized. The last renovation happened in 1968. “The transformation of Belmont Park will secure the future of thoroughbred racing in New York State, create thousands of good jobs and drive tourism to Long Island and the region for decades to come,” NYRA President and CEO David O’Rourke said in May. The 2024 Belmont would likely be held on Saturday, June 8. The Preakness is usually scheduled for two weeks after the Kentucky Derby, but officials behind the running of the second Triple Crown race have spoken about possibly pushing it back to four weeks after the Derby. So would that impact the Belmont? McKenna put it this way: “NYRA has no plans to move off the traditional date of the Belmont Stakes.” NYRA’s vision for the Belmont the next two years at Saratoga would be similar to what it is now, a multiday racing festival in early June. “We would then return downstate to Aqueduct for the rest of the spring meet,” McKenna said, “and reconvene in Saratoga for the traditional 40-day summer meet in mid-July that would conclude on Labor Day.” Gov. Kathy Hochul’s office did not respond to a request for comment. The Town of Hempstead, the Long Island Regional Planning Council and other local business/hospitality groups did not immediately respond to messages seeking information on the potential economic impact of temporarily losing the Belmont Stakes. With Michael O'Keeffe

Patrick McKenna Investments

3 Investments

Patrick McKenna has made 3 investments. Their latest investment was in PeerWell as part of their Series A on August 8, 2019.

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Patrick McKenna Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/27/2019

Series A

PeerWell

$6.5M

Yes

10

2/2/2016

Seed VC

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$99M

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10

7/15/2010

Series A

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$99M

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0

Date

8/27/2019

2/2/2016

7/15/2010

Round

Series A

Seed VC

Series A

Company

PeerWell

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Amount

$6.5M

$99M

$99M

New?

Yes

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Co-Investors

Sources

10

10

0

Patrick McKenna Portfolio Exits

2 Portfolio Exits

Patrick McKenna has 2 portfolio exits. Their latest portfolio exit was PeerWell on June 14, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/14/2022

Acquired

$99M

3

12/12/2018

Acquired

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$99M

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10

Date

6/14/2022

12/12/2018

Exit

Acquired

Acquired

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

3

10

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