Venture capitalist David Shuman agrees to buy minority Islanders stake
Lateralus Holdings founder joins the ownership group as a limited partner, an investment still subject to NHL approval.
David Shuman has joined the New York Islanders' ownership group as a limited partner, subject to NHL approval. Shuman's venture capital firm, Lateralus Holdings, and the team announced the minority investment on Monday.
The Islanders did not disclose financial terms or what percentage Shuman is getting, saying only that there will be no changes to day-to-day business and hockey operations or front office leadership. Sportico reported that the limited partnership stake does not affect the day-to-day operations or governance of the team, whose control owner is Scott Malkin.
Malkin and Jon Ledecky serve as governor and alternate governor, with Oliver Haarmann, Dewey Shay and John Collins also listed as co-owners.
"David is one of the most passionate Islanders fans I know and an extraordinary builder of companies," Ledecky said in a statement. "That mindset will be invaluable as we continue to invest in this organization and in this community."
Shuman founded Lateralus in 2016. He is board chair at two of the New York firm's portfolio companies, smart ring maker Oura and AI platform webAI, which Sportico reported was valued at $2.5 billion in January. Oura filed to go public in May, and Sportico, citing Bloomberg, reported the offering could come at a $16 billion valuation.
"Hockey has been a constant in my life since childhood, both as a fan and a player, and the 1980 Miracle on Ice combined with the Islanders' four consecutive Stanley Cup championships cemented a lifelong passion," Shuman said in a statement. "I'm honored to help support the Islanders' future and their drive for a fifth Cup."
In 2023, European private equity executive Oliver Haarmann bought a 10% stake in the Islanders at a $1.75 billion valuation, according to Sportico. Earlier that year, former NHL executive John Collins invested in the club and was put in charge of its business operations. Sportico valued the Islanders at $1.93 billion on its most recent NHL list and said the team will be north of $2 billion on its next one.
The four-time Stanley Cup champions have missed the playoffs in each of the past two seasons and last won a playoff series in 2021, according to Sportico, although last season brought an eight-win improvement after the team drafted defenseman Matthew Schaefer first overall in the 2025 NHL Entry Draft. Schaefer won the Calder Memorial Trophy as the league's best rookie.
