December 11, 2022
2 mins read

Dhawan announces 75 million dollar Global Investment Sports Tech Fund

The Fund, consisting of a greenshoe option of 25 million dollars, is the first organised VC fund by an Asian sportsperson and the first by an Indian celebrity….reports Asian Lite News

India opener Shikhar Dhawan on Friday announced that he would be launching a new 75 million dollars Global Investment Tech Fund to focus on innovation across the sports spectrum.

The Fund, consisting of a greenshoe option of 25 million dollars, is the first organised VC fund by an Asian sportsperson and the first by an Indian celebrity. The 37-year-old cricketer made the announcement during the annual Abu Dhabi Global Market (ADGM) Finance Week.

The announcement made by Dhawan, his partners & team at the LP-GP Summit by 256 Network (A private, invite-only organisation of asset allocators) to an audience congregating global financial market leaders from a wide array of backgrounds, who gathered at ADGM to address strategic macroeconomic and financial topics that shape global, regional and industry perspectives and themes for the years to come.

“I am elated to start a new innings & embark on this journey in the world of venture capital. All this would not have been possible without the support of my commercial partners and the founding team’s commitment to this fund, in readiness for this week’s announcement and targeted deployment in Q1 2023-24,” Dhawan said in a release.

“Da One Global Ventures (DOGV) will go beyond traditional investing models and will provide domain knowledge and unprecedented access to the sporting ecosystem across the globe. We are making a humble beginning but aim to scale this to greater heights and aspire to set new benchmarks for leading in Venture Capital, Sports and Technology. I have much gratitude to sports & I look forward to the contribution of this fund to the economic strength and growth of it,” he added.

Dhawan, one of the most reputed names in the cricket world, has established a globally enriched and seasoned founding team who will lead the fund’s investment thesis across the spectrum of Sports to include technology, esports, gaming, web3 & more. The deployment of funds will be global in nature, as is the LP community.

The fund will also have other prominent sporting personalities from across the globe representing multiple sports as LP Ambassadors. Through this unique network of GPs and LPs, Da One Global Ventures (DOGV) will provide unprecedented access to an ecosystem worldwide that will accelerate and mobilise new propositions with a unique positioning.

This year has been a spectacular year for SportsTech with investments to the tune of 12 billion dollars already. That is more than the total of the preceding three years combined and multiple segments illustrating rapid growth in this dynamic industry.

Da One Global Ventures (DOGV) is in active discussions with various relevant stakeholders across the globe and further developments will be announced in due course. Da One Global Ventures (DOGV) will also incubate a SportsTech Accelerator & eSports Venture studio as distinguishing verticals within its platform.

ALSO READ: 3 members of Twitter’s Trust and Safety Council quit

Previous Story

3 members of Twitter’s Trust and Safety Council quit

Next Story

BSNL’s total net loss Rs 57,671 crore since inception

Latest from Business

China Curbs Hit India’s Electronics Boom

The ICEA noted this results in delays, inefficiencies, and higher costs — alternatives from Japan or Korea cost up to four times more than Chinese machinery. India’s transformation into a global electronics

India Maps 8.52 MT Rare Earth Reserves

The Atomic Minerals Directorate for Exploration and Research (AMD) and the Geological Survey of India (GSI) are actively exploring and augmenting rare earth resources, while the GSI alone has added 482.6 million

‘India’s Digital Hub Ascends’

The event also featured discussions on the Quad Partnership for Cable Connectivity and Resilience, reiterating commitments made during the July 1 Quad Foreign Ministers’ Meeting India’s growing role as a key digital

India’s Job Market Surges

With hiring levels on the rise, compensation is expected to increase by 12-15% in metro cities and by 18-22% in emerging cities India’s festive season this year is poised to create more
Go toTop

Don't Miss

Retiring As a Legend

The iconic number nine of Indian football made his debut

India, Australia sign joint guidance to boost cooperation between navies

The document is aligned to the ‘2020 Comprehensive Strategic Partnership’