Sharp Alfa Advisors to Invest In Sports Betting Startups

Sharp Alfa Advisors to Invest In Sports Betting Startups

The sports betting startups specialist that also deals in M&A, technology, and venture capital has announced that the Sharp Alfa Fund I will be closed. The fund had the aim of supporting early-stage sports betting technology suppliers.

Sports betting in the United States is ripe for investment

The venture capital fund that has a value of $ 10 million has already invested in 11 startups that operate in the sports betting industry. Some of these startups are Players’ Lounge, PickUp, and GridRival. Prophet also offers seed financing as well as Series A financing. It offers an initial amount of $ 250,000. Further rounds of financing are also given to provide follow-on support for businesses in their early stages.

Co-investment vehicle by Sharp Alfa Advisors

The company also owns a co-investment vehicle that allows limited partners to make additional investments in the form of capital apart from investments made by the fund. To date, the co-investment vehicle has made additional investments to the extent of $ 1 million.

Growth in the sports betting industry

The sports betting industry is expected to undergo a period of growth in the near future. Goldman Sachs, the global investment bank has projected that annual revenues from betting on sports will be around $ 40 billion by 2033. Lloyd Danzig, Managing Partner of Sharp Alfa has stated that this is the time to make early investments in order to reap rewards later.

Advisory Board made up of eminent professionals

The fund has an advisory board that is made up of prominent figures in the field of entertainment, sports as well as various sectors of the finance profession. The members include former CCO at Harris Blitzer Sports and Entertainment and CRO of the New Jersey Devils Adam Davis, former COO of Elliott Management and Global Head of Leveraged Finance at Merrill Lynch Keith Horn, former Chairman of Empire Resorts Emanuel Pearlman. Senior executives of hedge funds, investment banks, and publicly traded companies are limited partners in the fund of the company. Institutional investors such as Dutch Sports Tech Fund and Great Elm Group, family offices, private equity groups, and venture capital funds also are associated with the fund.

About sherlock

Sherlock Gomes loves to write and express his views on anything related to Gaming, Gambling, & Casino. He has been covering Gaming for more than two years now.