A Winter Park-based golf technology company has teed up a star-studded list of investors that include Steph Curry, Serena Williams and Justin Timberlake.
Why this story matters: Investment rounds by local companies can result in high-tech, high-wage job creation. The long list of high-net-worth people who invested in the company indicates it may be raising a significant amount of capital.
Nexgen Sports Group Inc., which does business as TMRW Sports, on Nov. 2 revealed the name of 27 professional athletes and celebrities, along with 13 investment firms, that are part of TMRW Sports' initial investor group.
This announcement comes nearly two weeks after Orlando Inno reported TMRW Sports — led by golfers Tiger Woods and Rory McIlroy, along with longtime NBC Sports executive Mike McCarley — raised nearly $15 million.
However, it's likely TMRW Sports raised more money, as that $15 million total was only an "initial investment," a TMRW Sports spokesperson previously told Orlando Inno. TMRW Sports will not disclose how much money it has raised from its investors, a spokesperson said.
Still, TMRW Sports' crop of investors include several affluent, high-profile individuals:
- Los Angles Angels pitcher and designated hitter Shohei Ohtani
- Buffalo Bills quarterback Josh Allen
- Formula One driver Lewis Hamilton
- Pittsburgh Penguins center Sidney Crosby
- Professional tennis player Andy Murray
- Los Angeles FC forward Gareth Bale
- San Diego Wave FC forward Alex Morgan
- Phoenix Suns point guard Chris Paul
- Atlanta Falcons and Atlanta United owner and Home Depot co-founder Arthur Blank
The full list of investors can be found here.
Founded in August, TMRW Sports is creating a tech-focused golf league called TGL. The TGL will consist of six teams of PGA Tour golfers competing in 15 regular-season, Monday night matches. Players, including Woods and McIlroy, will compete on a virtual course. The first season will kick off in 2024, TMRW Sports announced Aug. 24.
The "best-in-class" group of investors that is diverse in background and expertise will be vital for TMRW Sports's new golf league, founder and CEO Mike McCarley said in a prepared statement. "Their combined broad reach and cultural relevance will expand potential opportunities and fanbases for TMRW projects. Plus, many share a passion for golf that only adds more fuel to TGL, our first project in partnership with the PGA TOUR.”
Startup investments by celebrities have been increasingly common in the last few years.
There is limited data on how much money celebrities are pumping into tech startups, but a 2020 analysis of Crunchbase data by British financial firm Tide showed global celebrity startup investments increased each year from 2016-2019. It peaked at $2.25 billion in 2019, the highest point last decade.
Meanwhile, metro Orlando venture capital activity recently took a dive after a blockbuster first half of the year.
Local companies collectively raised $22.6 million last quarter, down 92.9% from $320.7 million in Q2 and down 85.8% compared to $159.9 million in Q3 2021, according to data released by PitchBook and the National Venture Capital Association on Oct. 13. It was the lowest amount of money invested in local companies in any quarter since Q1 2020.
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