#166 💸 New Sports Funds: Otro's $1.2B & Project Level's $250M for Women's Sports

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We're going to have to come up with a catchier name than the Billion-Dollar Sports Fund Club. Whatever we end up calling it, there's a new member: Otro Capital has closed a $1.2 billion fund, reportedly the largest ever fundraise for a first-time dedicated sports vehicle.

Five weeks into 2026 and that's the third billion-dollar sports investment announcement. Meanwhile, Project Level has closed $250 million for a dedicated women's sports fund. And that's before you count January's investment round up, which wasn't far off the billion mark itself.

February's barely started.

💸 MONTHLY INVESTMENT ROUNDUP

January 2026 opened the year with strong momentum across both funding and M&A. The month closed with $194.5M in funding across 29 deals and a significant $785.0M in disclosed M&A volume from 5 transactions..

Here’s a quick summary:

• Geography: Funding activity was led by North America, contributing $115.9M (59.6%), followed by Europe at $69.9M (35.9%). Oceania accounted for $7.3M (3.8%), while Asia contributed $1.5M (0.8%). Africa recorded no funding activity.
  On the M&A side, Europe led by deal count (60%), with North America accounting for the remaining 40%.

• Sectors: Funding was relatively balanced across segments, led by ‘For Fans’ ($95.3M, 49.0%), followed by ‘For Athletes’ ($52.0M, 26.7%) and ‘For Executives’ ($47.2M, 24.3%).
  M&A activity leaned toward ‘For Athletes’, which made up 60% of deals, while ‘For Executives’ accounted for 40%.

• Top Deals: Fanchize raised $58M in a seed round, the largest funding deal of the month.
  On the M&A front, eGym merged with Playlist in a $785.0M transaction, driving all disclosed M&A volume for January.

📰 THE LATEST

Top News From The World Of Sports Tech & Biz

⚙️ The Collectiv Foundation launched an AI-native dual-use sports, health, and wellness accelerator in Houston’s Ion District in collaboration with Rice University, aimed at supporting early-stage founders building AI technologies validated in sports and scalable across health and enterprise markets.

🏟️ Nike opened applications for its 2026 Community Impact Fund in the Netherlands, offering grants of $5.4k to $21.6k (€5k to €20k) to support youth-focused sport initiatives promoting inclusion, physical activity, and community development.

📊 Nielsen launched a co-viewing pilot program beginning with the Super Bowl, using proprietary wearable measurement devices to better capture out-of-home and group sports viewing behaviour.

🏈 OneCourt introduced a tactile tablet device that used synchronized vibrations to translate live game action into physical feedback, enabling blind and visually impaired fans to follow Super Bowl gameplay in real time.

⛳ Garmin introduced two new golf training devices, the Approach J1 GPS watch and the Approach G82 launch monitor, as part of a broader strategy to expand its sports technology ecosystem across performance tracking, hardware, and subscription-linked services.

🏈 Sony expanded its role as an official NFL technology partner by deploying advanced audio, imaging, and sports technologies for Super Bowl LX in San Francisco, including broadcast production tools, imaging sensors, and immersive fan-facing innovations.

🏎️ Cadillac partnered with TWG AI in a new Formula One deal designed to integrate artificial intelligence technology across performance, fan engagement, and commercial operations beyond traditional sponsorship activation.

⚽ Baller League halted operations in Germany as the influencer-backed six-a-side football competition shifted focus to international growth, including its planned launch in the US.

⚽ Daniel Levy entered talks to sell his stake in Tottenham Hotspur for around $1.3 billion (£1 billion) to an investment consortium that included Hong Kong businessman Ng Wing Fai.

🏏 Diageo explored the sale of Royal Challengers Bengaluru as part of a potential divestment of its Indian Premier League cricket assets, with valuations that could reach $2 billion.

🏏 Rajasthan Royals are entertaining bids, with four bidders, including Blackstone Inc. and The Carlyle Group, understood to have submitted indicative offers of around $1.3bn. The process is being overseen by The Raine Group.

👟 Adidas posted record revenue of $26.9 billion (€24.8 billion) for 2025 and announced a $1.1 billion (€1 billion) share buyback programme scheduled to begin in February as the company continued its financial recovery.

💸 Otro Capital closed a $1.2 billion sports investment fund, which the US-based private equity firm described as the largest-ever global fundraise for a first-time dedicated sports fund.

💸 Project Level completed a $250 million first close for its women’s sports investment fund, establishing one of the largest funds dedicated exclusively to investing in women’s teams, leagues, and sports-related assets.

🤝 ESPN completed its $3 billion acquisition of NFL Media, adding NFL Network, RedZone, and additional live games to its portfolio in a landmark expansion of its American football media rights.

🤝 Genius Sports entered into a definitive agreement to acquire Legend for up to $1.2 billion, combining official sports data, technology, and a global digital sports and gaming media network.

💰 Kings League announced a $63 million investment round led by Alignment Growth to fuel global expansion, including launching new regional leagues and scaling its creator-led seven-a-side football competition across additional international markets.

💰 Zen8 secured $1.5 million (€1.4 million) in funding led by Lince Capital to advance development of its ZWIM dry-land swimmer training technology and support expansion of the Portuguese startup across the European market.

💰 Runeasi raised $1.1 million (€1 million) to accelerate international growth of its AI-powered running analysis platform, with a focus on expanding into the US market while continuing to support its customer base in Belgium.

💰 Gamepoint secured $800,000 (₹7 crore) in pre-Series A funding to scale its multi-sport network across India, expanding access to organised grassroots and amateur sports participation.

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