“Sports” is often narrowly defined: you’re either an athlete or you’re a fan. In reality, the sports world extends far beyond that — and investors are increasingly taking notice.
Driving the news: Will Ventures, a Boston-based early-stage venture capital firm, just closed a new $150 million fund to continue investing in sports and sports-adjacent businesses.
- The firm, founded in 2019, has already invested in Future (personal training), Street FC(pickup soccer marketplace) and Candy Digital (digital collectibles), among other startups.
- They have 17 pro sports team owners on board and they also have an exclusive deal with OneTeam Partners that allows them to leverage athletes to promote their portfolio companies.
State of play: A few decades ago, the idea of a sports-centric VC firm was a foreign concept. But as sports grow more intertwined with media and technology, “investing with a sports focus” is now a powerful thesis.
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This article was written by Kendall Baker for Axios.com
