Grace Drive Management, a New York-based investment fund, is providing up to $2 million in first round financing for Sportsvite, a social net for recreational athletes, teams and leagues. The funding was arranged by [212]MEDIA, Sportsvite’s parent company. Sportsvite, which has outlets in New York and Washington, DC, is a free site that allows members to set up profiles that detail their sports and teams. Aside from providing a social network for connecting players, teams and leagues, Sportsvite’s also serves as a platform for organizing team activity.