PGA of America and Elysian Park Ventures launch new investment vehicle

The Professional Golf Association (PGA) of America has confirmed the launch a dedicated funding vehicle with Elysian Park Ventures, the investment arm of the Los Angeles Dodgers of Major League Baseball (MLB), designed to support innovation in golf.

The new Golf Ventures EP will invest in areas that drive value in an industry that the PGA of America says is worth some US$84 billion. The fund will provide support to companies working in the performance, health, wellness, hospitality, facility management, retail and agriculture sectors in golf.

Already, EP Golf Ventures has funded two companies. One is Sportsbox, an artificial intelligence (AI)-based technology company that develops applications through markerless 3D motion capture and the other is Dryvebox, a mobile simulator brand that can host lessons, virtual golf sessions and be used at private events.

Elysian Park and the PGA of America have already invested in the new investment vehicle and are currently selecting additional backers.

“The PGA of America is committed to developing and growing the game for the current generation and the next generation of PGA players, golf facilities and professionals,” said Seth Waugh, General Manager of PGA America. .

“Through EP Golf Ventures, we will be able to identify and invest in the most promising companies in the golf industry to support both innovation and growth in the game, as well as creating long-term value for professionals. of the PGA.

“Elysian Park Ventures has an impressive portfolio of companies and entities operating in the sports industry, and we are delighted to partner with them in this endeavor.”

“Golf is one of the fastest growing sports in the world, and there is tremendous opportunity to innovate, improve and expand the reach of the game on and beyond the course,” said said Jay Adya, managing director of Elysian Park Ventures.

“EP Golf Ventures combines the golf industry expertise of the PGA of America with the institutional knowledge of our team at Elysian Park. Together, we believe that EP Golf Ventures and the strategic investments we make will have a lasting, positive impact on the game of golf and create real value for stakeholders.

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