IBM Ventures plans to tap into sports tech startup ecosystem
With the sports tech industry growing at a rapid pace, IBM Ventures plans to invest in similar startups.
Under the part of IBM, the IBM Ventures, a $500 million in-house venture fund of the American technology company, is increasingly finding opportunities within the sports technology industry. The primary motive behind this shift in interest is to explore and invest in startups that comply with IBM’s innovation-driven client base.
IBM 's Global Head of Venture Capital, Emily Fontaine, confirmed the company’s growing interest in sports tech investments after the company hosted a sports tech startup pitch challenge at its Manhattan headquarters, inviting pitches from developing sports tech startups.
The latest event hosted by IBM Ventures was designed to promote interest in prospective concept-driven projects with these sports tech startups, with successful collaborations briefing subsequent investment decisions.
IBM Ventures Investment Strategy
IBM Ventures’ typical investment structure includes minority investments extending from $500,000 to $15 million. The company generally targets seed-stage to Series C startups. As of now, there is no specified blueprint for investment in sports tech startups, IBM Ventures’ latest interest of investment.
Sportscape believes, with the sports tech industry growing at a rapid pace, the IBM Ventures’ plan to invest in the sports tech industry can further the development of several startups with outstanding concepts
Written by