Last week, Venturerock SportsTech announced the launch of a $75 million fund that will invest in the future of sports technology, media, and culture.
A differentiator that caught Benzinga’s eye was the team’s commitment to “converging physical and digital sports experiences” to, ultimately, transform sports organizations and enterprises.
Danny Cortenraede is leading the initiative as partner and co-founder at Venturerock. Benzinga previously spoke with the serial entrepreneur on his part in growing great brands like 433, one of the largest communities that creates and shares football-related content on all platforms.
Why It’s Important: Venturerock is an “Impact Venture Builder,” a release on the matter said.
At its core, the venture is an ecosystem of founders, backers, and builders who are dispensing with traditional venture models for ones that are focused on “building” and “advancing technology, science, and innovation.”
“With the proliferation of new platforms battling for fan attention, fan engagement has become a critical standpoint for sports organizations,” Cortenraede said. “Even though the past years have witnessed a rapid digital upheaval, the sports industry is failing to meet the younger generations’ demands.”
In short, Venturerock will make a “revolutionary impact in the sports tech space” through investments that average $3 to $4 million per project.
More On The Team: Venturerock’s partners, including Bob van Oosterhout, have experience accelerating 700+ startups including Just-Eat, iChoosr, Exact, Sendcloud, and Relayr.
Additionally, through the Venturerock OS® system, Cortenraede, who is a co-host alongside Steve Wozniak on the entrepreneurial show Unicorn Hunters, among others, will help teams from early-stage startups grow in a structured way.
Investments in things like “esports and sports betting,” as described in another Benzinga chat with Cortenraede, will better spur fan engagement gauged via explicit “KPIs and milestones.”
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