#127 💸New $1 billion+ Sports Funds

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Last week we covered the news of Cynosure-Checketts $1.2 billion Sports Capital Fund. This week it’s TPG, who have partnered with Rory McIlroy and his Firm Symphony Ventures to launch of TPG Sports: a dedicated investing business “focused on partnering with companies, teams, and leagues shaping the future of sports.”

While the size of the vertical isn’t declared, it’s worth mentioning that TPG manages “$246 billion in assets through a principled focus on innovation.” We’ll take a bit of that into sports, thank you.

As always, have a great weekend.

Sports Tech Monthly Investment Roundup

The data is a snapshot from our SportsTechDB. with only highlights included in this newsletter edition. Head there for more in-depth data.

After a red-hot Q1 with over $7.5 billion in dealflow, a breather was probably inevitable. That’s what April delivered as investment activity barely crossed the $60 million mark. Making it the slowest month not just this year, but including all of the famously sluggish pace of 2024. Let’s chalk it up to an Easter hangover and move on.

The standout deal was the $34 million raised by Poolhouse. And of course the flood of new fund announcements - Red Bull Ventures, Cynosure-Checketts, and most recently TPG Sports. Expect things to get bussier as the year progresses.

Here’s a quick summary:

• Geography: For a change 70% of the dealflow activity was in Europe. M&A activity however was also dominant in North America with a 80% share.

• Sectors: Essentially most of the funding was in the solutions ‘For Fans’ sector again this month. It’s been the most funded sector so far this year. Interestingly, there no M&A activity ‘For Fans’ but rather has been slightly dominant ‘For Executives’ sector and another part ‘For Athletes’.

• Top Deals: Poolhouse raised $34 million in its seed round. All M&A activity was undisclosed.

SportsBox partners with Decathlon and launches community investment opportunity!

SportsBox, the new self-serve locker system for on-demand sports equipment, has partnered with Decathlon Australia. These lockers offer free-to-use gear, from basketballs to beach volleyballs, making it easier to stay active.

Now, SportsBox is opening public investment opportunities through a crowdfunding campaign to fuel its expansion and bring accessible sports to communities globally.

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Top News from the World of Sports Tech & Biz

🏙 Cosm launched its fourth immersive entertainment venue in downtown Detroit, in partnership with developer Bedrock.

🎥 NASCAR debuted its new era of remote production at the Rolex 24 at Daytona, centralizing operations and reducing on-site production needs.

🌐 Proto brought its hologram technology to WrestleMania, powering wrestler Tiffany Stratton’s entrance with a full-scale 3D projection.

🥌 Rock League, the world’s first professional curling league, will debut in 2026 with six mixed-gender global franchises.

🏎 McLaren will exit the Formula E Championship at the end of the season, prompting uncertainty around the futures of drivers Taylor Barnard and Sam Bird.

📊 The NCAA and Genius Sports extended their partnership through 2032 to enhance data, video, and broadcast solutions across college sports

🏟 The Washington Commanders reached a deal to build a new $4 billion stadium at the RFK site, opening in 2030 as part of a 170-acre mixed-use development.

🇪🇺 The EU formally backed a bid to host the 2036 Olympic Games, while London is reportedly planning a rival bid for 2040.

📺 Sky Sports released new research showing that women’s sports fandom is no longer niche, with 80% of UK fans engaging with women’s sport content.

⚙️ GM Performance Power Units, a joint venture between General Motors and TWG Motorsports, has been approved by the FIA as a Formula 1 power unit supplier starting in 2029.

🚫 The London Marathon announced a permanent boycott of X, citing the platform’s “descent into the gutter” under Elon Musk’s ownership.

🏏 New Zealand Cricket (NZC) agreed to launch a new Major League Cricket (MLC) team after the league’s 2027 expansion, marking MLC’s first franchise partnership with an international board.

Money Talks:

💸 Global alternative asset management firm, TPG launched TPG Sports, a dedicated sports investing business, in partnership with recent career Grand Slamer Rory McIlroy, his business partner Sean O'Flaherty, and their team at Symphony Ventures.

💰 Fanstake, a fan-powered NIL marketplace and engagement platform, raised $6.25 million in Series Seed financing led by Courtside Ventures.

💰 Respondology, a social media comment moderation and intelligence platform, raised an additional $5 million in Series A-1 funding to accelerate platform growth.

💰 TitletownTech invested $2.7 million in two startups, Ateios Systems and Ubicept, following their wins at the inaugural Startup Draft pitch competition.

🤝 On3, the sports media and data platform, acquired Rivals, for an undisclosed amount, and announced a strategic partnership with Yahoo Sports to expand its college sports coverage.

🤝 PlayVS acquired Generation Esports and Playfly College Esports for an undisclosed amount, creating North America's largest scholastic and collegiate esports network.

Recap from our content archive:

🔙 STX Article: New Leagues and Emerging Formats

✅ STX Monthly: Last month’s sports tech dealflow, in case you missed it.

💪🏽 SportsTech AllStars Recap: Indian Sports Business and Tech Report series.