SportsTech Investment Recap – June 1st

Fuel Venture Capital launches $300M Sports Flagship Fund

The global early-stage investment firm is aiming to raise $300 million for the Flagship Fund II and will target disruptive technology companies that transform how businesses and consumers transact, consume, work and enjoy their life, said Jeff Ransdell, Founding Partner and Managing Director of Fuel Venture Capital. The newest fund will focus on fintech, enterprise SaaS, consumer tech and sports and entertainment tech.

F1 driver Sebastian Vettel invests in German SailGP team

Vettel is working with double Olympic sailing bronze medallist Erik Heil and team owner Thomas Riedel on the project. The new team is set to compete in the SailGP global racing league, which starts its fourth season on 16th to 17th June. Erik Heil, who won Olympic bronze medals in Rio 2016 and Tokyo 2020, will operate the German F50.

AI platform, Instawork, raised $60 million to expand technology

With AI technology, job hunting becomes more efficient and targeted, potentially transforming the recruitment landscape in various industries.

Leeds United owner – Andrea Radrizzani – purchases Italian side Sampdoria

Andrea Radrizzani, Leeds’ majority shareholder, and his company Aser Group, along with finance company Gestio Capital, have completed a takeover of financially troubled Italian club, Sampdoria. Radrizzani is projected to sell his majority stake in Leeds to American co-owners, 49ers Enterprises, by January 2024. This could significantly alter the ownership and strategic direction of Leeds.

Aristocrat is acquiring Israel-based NeoGames in a deal worth $1.2 billion.

Australian company Aristocrat is acquiring Israel-based NeoGames, an online lottery company, in a deal worth $1.2 billion. This acquisition merges Aristocrat’s gaming prowess with NeoGames’ online lottery expertise, possibly leading to innovative, immersive lottery experiences.