Sporting goods giant launches $50 million venture fund
DICK’S Sporting Goods has announced the launch of DSG Ventures, a $50 million in-house fund that will invest in innovative companies that, like DICK’S, hold the core belief that sports make people better.
DSG Ventures will initially focus on companies that directly serve athletes and their communities, or that help DICK’S better serve its own athletes. In many cases, the fund will seek to help these companies grow by providing them with support and resources that go far beyond capital and include what makes DICK’S unique: distribution reach, industry-leading expertise in retail, operational excellence and relationship with athletes.
DSG Ventures’ initial investments reflect the fund’s focus on innovation and include:
- Moolah Kicks is the first and only women’s basketball performance footwear brand built by and for female ballers.
- SidelineSwap is one of the fastest growing marketplaces globally and the world’s largest online marketplace for sporting goods. Buyers and sellers can quickly and easily connect on a wide range inventory across numerous sports or sell their gear instantly at one of our trade-in events.
- Out&Back Outdoor is a one-stop shop when it comes to buying and selling outdoor gear. It’s the best place to sell your unwanted outdoor gear in seconds for cash and buy secondhand outdoor gear with confidence.
- EL1 Sports is one of the nation’s leading youth sports companies, offering baseball and softball instruction and team administrative support. Also known as the operator of the Los Angeles Dodgers Training Academy, and Proud Youth Baseball and Softball Training Partner of Major League Baseball, EL1 Sports provides teams with training facilities, camps, tournaments, and operating services.
- Courtside Ventures partners with early-stage founders challenging the traditional definition of sports, gaming and wellness.
DSG Ventures is also working with innovation advisory VentureFuel on a Retail Innovation Program to identify startups to collaborate with DICK’S Sporting Goods on a pilot program around enhancing the customer experience. The pilot covers any area of the customer experience from e-commerce to in-store experience to AI.
Click here to read the news release.
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