Sharp Alpha closes Fund II with $25m to back early-stage sports, gaming and entertainment startups

Sharp Alpha closes Fund II with $25m to back early-stage sports, gaming and entertainment startups

Published: 14-05-2024 15:50:00 | By: Pie Kamau | hits: 839 | Tags:

Sharp Alpha Advisors has announced the closing of Sharp Alpha Fund II, an oversubscribed $25 million venture capital fund investing in early-stage sports, gaming, and entertainment startups.

Existing investments in Fund II include C15 Studio, which recently emerged from stealth mode as the operator and distributor of Formula 1's new streaming channel. Previous investments include Almost Friday Media, Jackpot.com, and Betcha (acquired by Vivid Seats).

The fund targets seed investments ranging from $1 - 2 million. Sharp Alpha also operates a co-investment vehicle that provides limited partners the ability to invest additional capital in select deals alongside the fund. The fund is backed by public companies, US financial institutions, pro sports team owners, family offices, top venture capitalists, and funds of funds, among others.

Lloyd Danzig, Managing Partner, Sharp Alpha Advisors: ''There is a significant opportunity at the intersection of sports, gaming, media, and technology. The competitive entertainment category is experiencing exponential growth but at the same time is desperate for innovation that early-stage companies are best positioned to supply. We are entering the most favorable period in the last 15 years to bet on great founders."

The fund has exceeded its $25 million capital raise target and expanded the size of its deal team. In addition to investment capital, the firm provides portfolio companies with a suite of resources and opportunities spanning fundraising, revenue generation, brand awareness, commercial strategy, financial planning, and product development.

www.sharpalphaadvisors.com

 

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