TLDR:
- Sharp Alpha Advisors raised a new $25 million fund for sports, gambling, and entertainment startups.
- The fund plans to invest in early-stage companies and has already written bigger checks compared to its first fund in 2021.
Venture-capital firm Sharp Alpha Advisors recently closed a new $25 million fund focused on investing in early-stage sports, gambling, and entertainment startups. Managed by Lloyd Danzig, the fund’s first investment in 2021 included companies like Almost Friday Media, Jackpot.com, and Betcha. Despite a tough funding environment for sports and gaming startups, Danzig remains optimistic about the sector’s potential and sees opportunities to introduce new technological ideas to the entertainment industry. The new fund aims to provide $1 to $2 million in investments to target ventures, a significant increase from the average amount offered by its initial fund. One of its recent investments is in C15 Studio, the operator and distributor of Formula 1’s new streaming channel, which aligns with industry trends towards direct-to-consumer relationships in sports and entertainment. In the sports betting and real-money gaming space, Sharp Alpha is looking for products and platforms that enhance the entertainment aspect for recreational customers. Despite challenges in the funding environment, Danzig is grateful for the continued support from investors for the new fund.
