HYPE Sports Innovation platform has announced plans for a $75m capital fund.
HYPE will leverage from the already generated proprietary deal flow thanks to their global accelerator network hosting over 10,000 sports startups; focusing on eSports, AI, fan engagement monetization, VR, and performance analytics.
The fund has already raised warehouse funding and signed the first term sheet with a promising startup.
Uli Becker
Once we reach our funding target, we will support the next unicorns of sports innovation, aiming to capitalize on emerging technology,” said Uli Becker, Chairman of HYPE Capital Fund. “We already have vast experience promoting startups in our ecosystem, with forty percent of firms in the London accelerator raising money through our program.
Bernd Wahler
Bernd Wahler, Chairman of HYPE Sports Innovation, spoke about the company’s investment strategy:
To reduce the risk for investors we only work with elite startups, whom we know personally and are part of our deal flow. Once we get them onboard, we connect them to corporations in our accelerator program, giving them an outstanding global platform.
Sports tech is a fast-moving industry with thousands of companies worldwide and billions of dollars invested over the past five years,” said Wahler. “We are working to take this sector’s strongest startups to the next level and to invite industry experts onto their advisory boards.
The perfect storm is here. Fitbit and Peloton have raised together more than USD 1 billion, and millennials and Generation Z are streaming sports events on their phones in huge numbers,” continued Wahler. “This radical demographic shift in viewing distribution is transforming the entire industry, with online shopping now established as the underlying foundation of sports retail.
Amir Raveh
Speaking about the sports industry’s response to technology, Amir Raveh, President and Founder at HYPE Sports Innovation, said:
I believe sports will continue to embrace technological change in the 2020s, and with HYPE’s capital fund we believe we can create an unparalleled return on investment. I am confident that HYPE’s vision – to impact people’s lives with the power of sports innovation – will become a reality.