Israeli crowdfunding investment group OurCrowd is expanding its portfolio into the sports technology sector.
The company, along with its partner leAD Sports, it will create its 13th fund and infuse it with $50 million to be invested in sports tech startups, it was announced Thursday. Called ADvantage, the fund will initially provide 15 startups with seed money to help them grow. The startups are in the business of fan engagement and experience, creating connectivity solutions for athletes and communities, and “derivative” sports such as esports and fantasy sports.
According to the announcement, OurCrowd‘s Jeremy Pressman and leAD Sports‘ Christoph Sonnen will co-manage the fund.