Dick’s Sporting Goods Launches $50M Investment Fund For Sports Technology Startup Companies
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By Simon Ogus
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News that caught my attention this week was the announcement that Dick’s Sporting Goods has started an investment vehicle called DSG Ventures that will invest in innovative companies that will look to bring technological advancements to the sports industry.
DSG stated specifically that they will be looking at companies that serve athletes and their communities and they also coincided with the announcement of their first five investments in the initial round of the fund. The companies are:
- Moolah Kicks — the first and only women’s basketball performance footwear brand.
- SidelineSwap — An online marketplace for sporting goods, an eBay for sporting goods it appears.
- Out&Back Outdoor — an online shopping place for outdoor gear specifically.
- EL1 Sports is a young sports company offering instruction in baseball and softball. Provides athletes with training facilities and services.
- Courtside Ventures, invests in early-stage companies within the sports, gaming, and wellness verticals.
While investment funds within sports/technology are nothing new, it feels newsworthy that a public company and large player in the space has decided to throw their hat in the ring. While the initial investments appear to be companies that have a lot of potential synergies with Dick’s Sporting Goods’ business model which will give the companies that much greater of a chance to succeed with built-in growth opportunities within Dick’s ecosystem as they continue to grow.
With capital being tough to come by during the market downturn, an early-stage startup getting funded by Dick’s seems like a compelling play and could lead other established brands in the sports world to copycat the model which will further fuel the growth within the sports/technology industry.
