Sharp Alpha Advisors has announced the successful closing of Sharp Alpha Fund II, an oversubscribed venture capital fund totalling $25 million. The fund is dedicated to investing in early-stage businesses within the sports, gaming, and entertainment sectors.
Sharp Alpha Fund II has already made notable investments, including C15 Studio, which recently launched as the operator and distributor of Formula 1’s new streaming channel. Other investments include Almost Friday Media, Jackpot.com, and Betcha, which was acquired by Vivid Seats. The fund focuses on seed investments ranging from $1 million to $2 million.
In addition to the main fund, Sharp Alpha operates a co-investment vehicle, allowing limited partners to invest additional capital in select deals alongside the fund.
Lloyd Danzig, Managing Partner at Sharp Alpha, has been recognized as one of Business Insider’s Top Venture Capitalists in Sports and has been named to ELG’s 40 Under 40. Danzig is a frequent contributor to CNBC, The New York Times, and The Wall Street Journal.
The fund is supported by a diverse group of backers, including public companies, US financial institutions, professional sports team owners, family offices, top venture capitalists, and funds of funds. Exceeding its $25 million capital raise target, Sharp Alpha has also expanded the size of its deal team.
The advisory board for Sharp Alpha includes Keith Horn, founder of Loring Capital Advisors and former COO of Elliott Management; Emanuel Pearlman, former Chairman of Empire Resorts; Daniel Bernard, Founder and Chairman of Redwood International Sports; Roy Behren, President and Chief Investment Officer of a $5.2 billion asset manager; and Don Kornstein, Vice Chairman of Caesars Entertainment.
Beyond capital investment, Sharp Alpha provides its portfolio companies with a range of resources and opportunities, including fundraising support, revenue generation strategies, brand awareness, commercial strategy development, financial planning, and product development.
According to Lloyd Danzig, there is a significant opportunity at the intersection of sports, gaming, media, and technology. “The competitive entertainment category is experiencing exponential growth but at the same time is desperate for innovation that early-stage companies are best positioned to supply.”
Commenting on current market conditions, Danzig explained, “We are entering the most favourable period in the last 15 years to bet on great founders.”
