Drive by DraftKings, DraftKings‘ venture capital firm that invests in sports and entertainment technology companies, today announced that it has raised its first $60 million venture fund, which is backed by homeowners, organizations, investors and athletes. high profile in the sports and entertainment industries.
Backed by some of the biggest names in the industry, including its co-founder and namesake DraftKings Inc, along with the Kraft Group, the Jones family and LA Lakers owner Todd Boehly, among many others, the venture capital firm raised the fund. in just six months and is 20% oversubscribed.
“We are proud and excited to have assembled this list of prominent investors. They not only embrace our vision to facilitate growth and innovation in sports technology and entertainment, but they have also provided the capital to join our mission,” said Meredith McPherron , CEO and Managing Partner of Drive by DraftKings.
“Through our relationship with DraftKings, as well as other iconic brands in sport and gaming through our limited partners and consultants, we are well positioned to accelerate the most ambitious new ventures at the frontier of these industries.”
Drive by DraftKing’s portfolio
With a current portfolio that includes companies such as Cardless, Guidesly and Just Women’s Sports, Drive claims to invest in new technology and sports entertainment operations to support “entrepreneurs advancing the future of gaming and performance.”
With a current portfolio that includes companies such as Cardless, Guidesly and Just Women’s Sports, Drive claims to invest in new technology and sports entertainment operations to support “entrepreneurs advancing the future of gaming and performance.”
Its newly created All-Star Network is designed to support this four-pillar investment strategy, with members from all over the sport such as Hilary Knight, three-time Olympic ice hockey medalist, Larry Fitzgerald, 11-time winner NFL Pro Bowl and Theo Epstein, MLB executive.
“Technology is changing sports and entertainment so quickly and if you’re not close to that change, you’re falling behind. industry,” concluded Epstein.
