Topgolf Callaway Brands Joins as Partner
Dedicated to Driving Innovation in Golf
NEW
YORK and FRISCO,
Texas, Aug. 31, 2023 /PRNewswire/ -- Today, EP
Golf Ventures, LLC ("EP Golf Ventures"), a strategic investment
partnership between Elysian Park Ventures and the PGA of America
designed to support innovation in the golf industry, announces the
completion of the first closing of its first investment fund, EP
Golf Ventures Fund I (the "Fund").
EP Golf Ventures invests in areas that add strategic value
across the $102 billion golf
industry, supporting organizations that seek to improve coaching,
education and training; health, wellness and performance science;
hospitality and facility management; retail; and agriculture.
Selected investors in EP Golf Ventures Fund I include Topgolf
Callaway Brands (NYSE: MODG) the unrivaled tech-enabled modern
golf and active lifestyle company with a portfolio of global brands
including Topgolf, Callaway Golf, TravisMathew, Toptracer, Odyssey,
OGIO, Jack Wolfskin, and World Golf Tour ("WGT"); Gametime
Capital, the family office of Richard Fairbank; and several other
institutions, individuals and investors across the sports,
technology and media ecosystem.
Both Elysian Park Ventures and the PGA of America have directly
committed capital to the Fund. EP Golf Ventures expects to complete
a second close of the Fund later this year.
"EP Golf Ventures has a strong investment thesis that is
strategically aligned with our mission to drive innovation, new
personality, trends and attitudes in golf," commented
Chip Brewer, President &
Chief Executive Officer of Topgolf Callaway Brands. "Elysian
Park's institutional knowledge and network combined with the PGA of
America's golf industry expertise offers an unparalleled platform
to identify promising entrepreneurs and organizations that will
capture the market opportunity in this rapidly changing and growing
sport, and usher in the next generation for the game we all
love."
EP Golf Ventures has already made four investments in
technologies that are poised to change the golf industry –
Sportsbox AI, an AI-powered technology company that develops
coaching applications through markerless 3D motion capture;
Dryvebox, an organization working to increase golf access to
all through a mobile golf simulator that offers lessons, practice
sessions, virtual golf and private events; Sensible Weather, a
climate technology company helping consumers understand climate and
de-risk adventures against the weather; and Repurpose, a
plant-based compostable tableware company. EP Golf Ventures expects
to build a portfolio of approximately 15 companies over time.
"Golf is one of the world's fastest growing sports, and there is
an enormous opportunity to drive innovation across all facets of
the game," said Jay Adya,
Managing Partner of Elysian Park Ventures. "We started EP Golf
Ventures with the PGA of America to partner with standout
entrepreneurs that have the ability to create real change within
the golf industry and beyond. Completing this first close further
validates our approach, and we look forward to growing our
portfolio with support from our new investors and partners."
"The PGA of America is committed to growing the game and
advancing the industry through the PGA Professional," said Arjun
Chowdri, Chief Innovation Officer at the PGA of America. "With
the backing of our new partners, along with our continued
partnership with Elysian Park Ventures, we look forward to
supporting businesses that have the vision to drive innovation in
the golf industry and create opportunities for the PGA
Professional."
About EP Golf Ventures
EP Golf Ventures is a strategic
investment partnership between the PGA of America and Elysian Park
Ventures designed to support innovation in the golf industry and
create opportunities for the PGA Professional. EP Golf Ventures
invests in businesses and entrepreneurs focused on coaching and
training; health, wellness and performance science; hospitality;
facility management; retail and agriculture.
About Elysian Park Ventures
Elysian Park is a global
investment platform dedicated to building the future of sports.
Created by the ownership of the Los Angeles Dodgers, Elysian Park
invests at the intersection of sports, health, culture, commerce,
and technology. Elysian Park works with companies across stages
from seed to growth to provide perspective, relationships, capital
and exclusive strategic resources including the Trailblazer Venture
Studio, Global Sports Venture Studio, Robin, Fitt Insider, and EP
Golf Ventures in partnership with PGA of America, among others.
Learn more at elysianpark.ventures.
About the PGA of America
PGA of America is one of the
world's largest sports organizations, composed of more
than 28,000 PGA Professionals who work daily to grow interest
and inclusion in the game of golf. For more information about the
PGA of America, visit PGA.com and follow us on Twitter,
Instagram and Facebook.
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SOURCE EP Golf Ventures