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