Title: Scrum Ventures Closes $68M Fund Focused on Sports and Entertainment Technology
San Francisco, Jan. 8, 2025 - Scrum Ventures, a San Francisco and Tokyo-based early-stage venture capital firm, has officially closed its first vertically focused tech fund, the Scrum Sports & Entertainment Fund I (SSE), totaling $68 million.
According to Tak Miyata, founder and general partner of Scrum Ventures, the new fund aims to invest in technology companies that support the growth of the sports and entertainment sector, but also transcend the vertical and address market inefficiencies in other industries. The investment strategy is centered around several key megatrends shaping the future of sports and entertainment.
PwC has noted the global market for sports and entertainment is projected to reach $680 billion by 2028, presenting unparalleled opportunities for innovative startups. Additionally, the sports industry is experiencing remarkable growth worldwide, with globalization creating a truly global market for companies that can cater to a diverse and interconnected audience.
Scrum Ventures' SSE fund has already made strategic investments in 16 promising companies across various sectors, including Fever, a live-entertainment discovery tech platform; TMRW Sports, an operator of a sports media and technology platform; Campus Ink, a merchandising platform for students and athletes; Ozlo Sleep, a science-driven sleep and audio technology company; Bandit Running, a retail apparel company offering sports and athleisure apparel; Volo Sports, a social and recreational sports organization; and Misapplied Sciences, a developer of parallel reality technology.
Established by co-founding partners Kazuhiro Kiyoshige and Michael Proman, the limited partners of SSE's fund include prominent Japanese corporations such as SBI Group, Oriental Land Innovations Co., Ltd., and Sumitomo Corporation of Americas among others. This investment will help fuel technological innovation to disrupt and enhance these industries.
Scrum Ventures' unique venture model serves as an innovation gateway between the United States and Japan, helping to connect founders to iconic brands, customers, and technologies to expedite growth and create category-leading businesses.