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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/elysian-park-ventures--pga-of-america-announce-first-close-of-ep-golf-ventures-fund-i-301914289.html
SOURCE EP Golf Ventures
