Celtics chief Grousbeck raising $125m fund aimed at sports media

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Boston Celtics co-owner and chief executive Wyc Grousbeck is looking to raise a $125 million fund called Causeway Media Partners to invest in sports media businesses.

According to a filing with securities regulators, Grousbeck and two partners had raised $74 million of that as of last week. Grousbeck used to be a partner at Highland Capital Partners in Cambridge and is joined in the new effort by Bob Higgins, a Highland founder. The third executive involved in Causeway is Mark Wan of Three Arch Partners, who is also a minority investor in the Celtics.

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