Scrum Ventures Launches New Tech Fund Targeting Sports and Entertainment Innovations
Scrum Ventures Launches New Tech Fund Targeting Sports and Entertainment Innovations
Scrum Ventures, an early-stage venture capital firm based in San Francisco and Tokyo, has recently announced the successful closing of its latest venture fund dedicated to investing in the booming sports and entertainment industries. The newly established Scrum Sports & Entertainment Fund I (SSE) has raised a remarkable $68 million. This fund represents a significant opportunity for them to invest in technology companies that not only cater to the sports and entertainment sectors but also address broader market inefficiencies across various industries.
The Significance of Growth
The sports and entertainment industries are undergoing an extraordinary transformation and growth phase, creating fertile ground for innovative startups. According to a report by PwC, the global market for sports and entertainment is set to reach an astonishing $680 billion by 2028. This trend presents unparalleled opportunities not just for established companies, but for emerging innovators as well.
Global Appeal of Sports
There is a palpable shift happening as sports become increasingly global. This transformation is creating a diverse and interconnected marketplace where companies that can adapt will find incredible success. Tak Miyata, founder and general partner of Scrum Ventures, remarked on this global expansion, emphasizing Japan's unique market opportunities due to the firm’s established connections and expertise.
A Commitment to Innovation
The SSE fund has already made strides by investing in 16 promising companies, illustrating its commitment to identifying future leaders within the sports and entertainment sectors. Some noteworthy investments include:
- - Fever: A platform that connects audiences with live entertainment, aiming to enhance accessibility in culture and entertainment.
- - TMRW Sports: A media and technology platform focused on delivering golf-related services and more to customers.
- - Campus Ink: Designed for student athletes, this merchandising platform caters to a niche market.
- - Ozlo Sleep: A science-driven company focusing on sleep and wellness technology to aid sleep rituals without medications.
- - Bandit Running: Retail apparel catering specifically to sports enthusiasts and the athleisure trend.
- - Volo Sports: An organization providing access to recreational activities and virtual events for young adults.
- - Misapplied Sciences: Innovating with parallel reality technology for shared digital displays.
These early-stage investments reflect Scrum Ventures’ strategic vision and commitment to fostering innovation in the rapidly evolving landscape of sports and entertainment.
Experienced Leadership at the Helm
Leading the charge for this new fund are seasoned veterans Kazuhiro Kiyoshige and Michael Proman. Kiyoshige brings his two decades of experience from Dentsu, specializing in international sports marketing and broadcasting rights. Enhancing strategic direction, Proman's extensive background includes roles in global marketing at Coca-Cola and the NBA, before successfully founding his own startup, OptionIt.
Collaborating with Key Players
The fund boasts an impressive network of limited partners, including major corporations in Japan such as SBI Group, KOEI TECMO, and SEGA SAMMY HOLDINGS INC., among others. This remarkable collaboration not only amplifies the fund's potential impact but also strengthens the link between innovative startups and established business giants.
About Scrum Ventures
Established in 2013, Scrum Ventures has been at the forefront of advancing innovative startups while facilitating their expansion into Japan and beyond. Their unique venture model serves as an innovation bridge, connecting founders with leading international brands and technologies to expedite growth, effectively shaping tomorrow's industry leaders in sports and entertainment.
In summary, Scrum Ventures’ new fund stands as a testament to the exciting future of sports and entertainment, harnessing technology to unlock new opportunities in an ever-evolving global market.
Topics Entertainment & Media）
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