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“Lionel Messi’s Play Time: Investing in the Future of Sports-Tech with Sports Companies”
Lionel Messi, the internationally acclaimed soccer player, is making a big splash in the budding business of sports-tech. On Thursday, Messi announced his investment in Play Time Sports-Tech HoldCo LLC, a venture capital firm focused on sports technology companies from around the world.
Messi has long been interested in sports-tech, having once stated, “Technology can make sports more enjoyable, more efficient, and in the end, more lucrative.” He also believes that investing in sports-tech can promote global development. As a colleague of Messi’s put it, “Sports-tech has broad potential beyond just sports and entertainment, such as digital medical technologies and e-commerce solutions.”
This investment marks the first time that Messi has put his money into a venture capital firm. Play Time Sports-Tech HoldCo, which is based in Spain, plans to focus on companies devoted to sports-tech, such as mobile applications for athletes, data analysis services, and virtual reality coaching tools.
The company has already made a number of investments since its formation in 2019. Among them are a series of investments in companies making sports-related mobile applications, including those for teams, players, and fans. It has also invested in data analytics services, such as those created by Big Data Sports, a company that specializes in collecting player performance data.
The investment is part of a larger trend of athletes investing in tech companies, with many of the world’s top sports stars launching their own venture funds or investing in existing ones. According to research firm CB Insights, athlete-backed venture funds have seen an uptick in the past year, with the number of deals rising from 15 in 2018 to 24 in 2019.
Lionel Messi is one of the most influential figures in the world of sports, and his investment in Play Time Sports-Tech HoldCo is a sign of his commitment to the future of the industry. It’s also a signal that the wave of athletes investing in tech companies is only just beginning.Lionel Messi, one of the world’s most recognizable athletes, has lately been investing in the sports-tech industry. The Argentinian soccer player recently invested in Play Time Sports-Tech HoldCo LLC, a new venture capital vehicle focusing on early-stage sports-technology companies.
This move represents a significant shift for Messi, who is known for his stellar performance on the field but not for his business acumen. It further highlights the growing importance and prevalence of sports technology and its growing potential as an important asset for athletes.
Play Time Sports-Tech HoldCo LLC is a vehicle aiming to invest in early-stage sports-technology startups. It was founded by a group of successful tech entrepreneurs, including Ben Narasin, the former Riverwood Capital managing partner who led the firm’s sports-tech investments. Narasin has a long track record of successful investments, having worked with companies such as Jet.com, Twitch, and MapMyFitness.
Together with Narasin, Messi has joined forces with three other investors, all of whom have made their own impressive investments in the sports-tech space. These include Rohit Prasad, the co-founder of behavioral analytics company MotiveMetrics, and Rajan Patel, the co-founder of sports data company Sportech.
The goal of Play Time Sports-Tech HoldCo LLC is to invest in companies that are developing technologies and products that have the potential to reshape the sports industry. According to Narasin, the fund is looking for companies that have a “core focus on digital sports,” such as companies developing new digital tools to help teams and players track performance and analytics, companies offering performance-enhancing products, and companies creating new fan engagement initiatives.
The fund will begin actively investing in the space later this year, and Messi’s involvement indicates that sports-tech is an area of growing importance in the sports industry. Messi’s investment in Play Time Sports-Tech HoldCo LLC further reinforces the importance of sports technology, and highlights the potential of it as an area for athletes to invest their money.