Scrum Ventures Closes New Tech Fund Focusing on Sports and Entertainment

The firm's fifth fund focuses on taking advantage of the unprecedented growth in sports and entertainment worldwide

SAN FRANCISCO, Jan. 8, 2025 /PRNewswire/ -- Scrum Ventures, a San Francisco and Tokyo-based early-stage venture capital firm, today announced the closing of its first vertically focused tech fund, Scrum Sports & Entertainment Fund I (SSE). The new fund, which closed at $68 million, invests 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.

SSE's investment strategy centers around several key megatrends that are shaping the future of sports and entertainment:

• Unprecedented Growth: The sports and entertainment industries are experiencing remarkable expansion worldwide, presenting unparalleled opportunities for innovative startups. PwC noted the global market is projected to reach $680 billion by 2028.
• Globalization of Sports: Sports are transcending geographical boundaries, creating a truly global market with immense potential for companies capable of catering to a diverse and interconnected audience.

"The sports and entertainment sectors are experiencing explosive global growth, and we see tremendous potential for technological innovation to disrupt and enhance these industries, said Tak Miyata, founder and general partner of Scrum Ventures. "Japan, in particular, is a market ripe with opportunity, and we're uniquely positioned to leverage our deep connections and expertise to help our portfolio companies expand."

SSE has already established a strong foothold in the sports and entertainment sectors, having made strategic investments in 16 promising companies, including;

• Fever:  a live-entertainment discovery tech platform aiming to make culture and entertainment more accessible.
• TMRW Sports: an operator of a sports media and technology platform intended to bring golf and other related sports services to customers.
• Campus Ink: a merchandising platform designed specifically for students and athletes.
• Ozlo Sleep: a science-driven sleep and audio technology company that simplifies sleep rituals without the use of medication.
• Bandit Running: a retail apparel company offering sports and athleisure apparel for men and women.
• Volo Sports:  a social and recreational sports organization offering access to a range of activities, and virtual events for young adults.
• Misapplied Sciences: a developer of a parallel reality technology that allows viewers to share a digital display and see something different

These early investments underscore Scrum Ventures' commitment to identifying and supporting future leaders in these dynamic industries.

The fund is run by two seasoned industry veterans Kazuhiro Kiyoshige and Michael Proman. Kiyoshige brings over two decades of experience in the sports and entertainment sectors, having honed his skills at Dentsu, where he specialized in international sports marketing and broadcasting rights. Proman complements Kiyoshige's expertise with his extensive background in global marketing and development, having held key positions at Coca-Cola and the National Basketball Association before founding and successfully exiting his own startup, OptionIt.

The new fund's limited partners include prominent Japanese corporations, including SBI Group, Oriental Land Innovations Co., Ltd., QR Investment Co., Ltd. Hokkoku Financial Holdings Group), KOEI TECMO  Group JAPANET HOLDINGS Co., Ltd., Sumitomo Corporation of Americas, SEGA SAMMY HOLDINGS INC., TV Asahi Holdings Corporation, TOHO Global Inc., Nippon Television Holdings, Inc., HISA KINZOKU KOGYO., LTD, Sumitomo Mitsui Trust Bank, Limited, MUFG Bank, Ltd., WOWOW Inc. as well as other business companies, financial institutions, individual investors, etc.

About Scrum Ventures
Founded in 2013, Scrum Ventures has been helping launch and grow innovative startups with an eye toward expanding into Japan and beyond. Its unique venture model serves as an innovation gateway between the United States and Japan, helping to connect founders to the world's most iconic brands, customers, and technologies to expedite growth and create category-leading businesses.

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CodePR
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SOURCE Scrum Ventures