News

Global Sports Tech Report Q1 2023

22 Jun 2023

 

Drake Star Sector Insights: We are pleased to publish our Global Sports Tech Q1 2023 report outlining a strong start to the year following an unprecedented 2022. Download the report to gain access to key data and insights including our outlook for the 2nd half of 2023:

Report Highlights:

  • 60 announced and/or closed M&A deals for the quarter, in line with the average deal flow we saw last year. While most of the deals were undisclosed, some of the noticeable deals included Barstool Sports / Penn Entertainment, QC Media Holdings / Hybe and MeridianBet / Golden Matrix Group
  • Record $2B+ of new funds were raised in the quarter showcasing the continued investors’ interest in sports tech sector
  • $1.7B was raised in 176 private placements with 75% of the deals being early stage, while the mid-late-stage financing segment was quiet as we predicted previously
  • With a large capital pool raised and available for deployment (over $7B during the last 15 months), we expect 2023 to be another strong year in terms of M&A and financings
  • Fan engagement, AI, ticketing and venue management are some of the hot segments currently and we expect strong flow of investment and interest in these verticals from the investor community
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Gregory Bedrosian

Managing Partner & CEO, Member of the Executive Committee

Consumer & Retail Tech

Digital Media

Digital Services

New York

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Eric Ward

Managing Partner

Consumer & Retail Tech

Digital Media

Software/SaaS

London

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Michael Metzger

Managing Partner

Digital Media

FinTech

Los Angeles

Mohit Pareek, CFA

Digital Media

FinTech

Los Angeles

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