Indian Cricketer Shikhar Dhawan became the first Asian sportsperson to launch a venture capital fund focusing on innovation across the sports spectrum. He has launched “Da One Global Ventures” (DOGV), a $75 million Global SportsTech Venture Fund focusing on innovation across the Sports spectrum.
The global investment fund consists of a greenshoe option of USD 25 million, allowing underwriters to sell more shares than initially agreed upon. Officially called the over-allotment option, the greenshoe option is allowed by the Securities and Exchange Commission (SEC) as a necessary tool for price stabilization.
Technology has considerably augmented sports capabilities, and the applications have been wide-ranging, from fitness equipment to virtual sporting events. Sportspersons worldwide have realized the potential of this emerging field and put their weight behind sports tech entities, be it NFL players Ryan McNeil and Ray Farmer founding SportsID or Kevin Durant founding 35 Ventures.
With more than 1050 sports tech start-ups in India, having raised $139 MN across 29 funding deals between 2014 and November 2022, the growth potential is massive, and for sportspersons acquainted with the issues in the domain, the investment would be lucrative.