Athletic Ventures, the early-stage venture capital firm founded by former AFL player Matt De Boer and basketballer Matthew Dellavedova, has closed its first fund at $25 million.
The five-year-old firm, which has attracted support from sports stars, has to date invested on a deal-by-deal basis.
Around 100 sports stars including Matlidas striker Sam Kerr and Australian cricket captain Pat Cummins are new backers of Athletic Ventures through the fund.
Other investors in the fund include wheelchair tennis champion Dylan Alcott and former Australian Rugby Union captain John Eales, now chair of global equity fund manager Magellan; Paul Bassat of Square Peg Ventures; Daniel Petre, the retired co-founder of AirTree Ventures, Blackbird Ventures venture partner and Telsa chair Robin Denholm and Denholm’s husband David Taylor.
Launched in 2020 as an investment syndicate, Athletic Ventures initially focused on start-ups in the health and fitness space but later widened its scope to include investments in digital healthcare business Eucalyptus and a pre-IPO stake in Mexican inspired fast food chain Guzman y Gomez (ASX: GYG).
De Boer, a former GWS Giants player, said the fund had reached a final close within three months attracting strong support from current and former athletes.
He said elite athletes were able to provide added value to the companies they invest in by marketing them to their established social media audiences.
Image: Matt de Boer in his playing days.