International Cricketer Shikhar Dhawan announces $75M Global Investment Sports Tech Fund
ABU DHABI, UAE, Dec 13, 2022 – (ACN Newswire via SEAPRWire.com) – On day one of the prestigious Abu Dhabi Finance Week (ADFW), leading international cricketer and entrepreneur Shikhar Dhawan announced that he would be launching a $75 million Global Investment Sports Tech Fund, consisting of a Greenshoe option of $25 million. The proposition is a multi-stage fund, Da One Global Ventures (DOGV), incorporated in Abu Dhabi Global Market (ADGM) and focusing on innovation across the Sports spectrum. ADGM is home to a growing number of international institutions, its vibrant business ecosystem underpinned by a robust regulatory framework.
This is the first VC fund organized by an Asian sportsperson and first by an Indian celebrity. The announcement by Shikhar Dhawan, his partners, and the DOGV team, came on 14th November during ADFW at the LP-GP Summit, an invite-only event hosted by 256 Network (a private organization for LPs/GPs worldwide). Held at ADGM, the international financial event draws an audience of global financial market leaders from a wide array of backgrounds who gather to address strategic macroeconomic and financial topics that will shape global, regional and industry perspectives and themes for the years to come.
Shikhar Dhawan is one of the most reputed names in the cricket world, and he has established a globally enriched and seasoned founding team that will lead the fund’s investment thesis across the spectrum of Sports to include Technology, eSports, Gaming, Web3 & more. The deployment of funds will be global in nature, as is the LP community. The fund will also have other prominent sporting personalities from across the Globe representing multiple sports as LP Ambassadors. Through this unique network of GP’s and LP’s (General Partners, Limited Partners), Da One Global Ventures (DOGV) will provide unprecedented access to an ecosystem worldwide which will accelerate and mobilise new propositions with unique positioning.
“I am elated to start a new inning and embark on this journey in the world of venture capital. All this would not have been possible without the support of my commercial partners and the founding team’s commitment to this fund, in readiness for this week’s announcement and targeted deployment in Q1 2023-24. Da One Global Ventures (DOGV) will go beyond traditional investing models and will provide domain knowledge unprecedented access to sporting ecosystem across the globe. We are making a humble beginning but aim to scale this to greater heights and aspire to set new benchmarks for leading in Venture Capital, Sports and Technology. I have much gratitude to sports & I look forward to the contribution of this fund to the economic strength and growth of Sports,” said Shikhar.
Shikhar is known as an Indian cricketer, a left-handed opening batsman and occasional captain of the India national cricket team, and he captains Punjab Kings in the Indian Premier League and Delhi in first-class cricket. For his notable contributions to the Indian Men’s National Cricket Team, Shikhar Dhawan was awarded the prestigious Arjuna Award by President in 2021.
This year has been spectacular year for SportsTech with investments to the tune of $12 billion already. That is more than the total of the preceding three years combined and covers multiple segments, illustrating the rapid growth in this dynamic industry.
Da One Global Ventures (DOGV) is in active discussions with various relevant stakeholders across the globe and further developments will be announced in due course. Da One Global Ventures (DOGV) will also incubate a SportsTech Accelerator & eSports Venture studio as distinguishing verticals within its platform.
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