Discover if this is a suitable investor for your startup. If they are we'll make a warm introduction for free. Otherwise, we'll connect you with matching investors.
Drive by DraftKings is a venture capital firm founded to explore the intersection of technology and sports. Established in November 2021, the firm is based in Boston, Massachusetts, and has a fund size of $60 million. It focuses on investing in early-stage companies within the SportsTech and Entertainment sectors. The firm was created to support innovative founders who are developing new technologies and services that enhance engagement and performance in sports.
Currently, Drive by DraftKings manages a portfolio of 22 companies and has notable limited partners including DraftKings, General Catalyst, Accomplice, and Boston Seed Capital. The firm has also attracted significant backing from prominent investors such as the Kraft Group and Madison Square Garden Entertainment Corp. Drive by DraftKings has been recognized for its commitment to supporting startups that drive innovation in sports and gaming.
Drive by DraftKings invests primarily in early-stage companies that are innovating in the SportsTech and Entertainment sectors. Their investment strategy revolves around four key themes: human performance, sports and gaming, media and fan engagement, and data analytics and monetization. The firm targets companies that are developing new technologies and services aimed at improving engagement and performance in sports.
Investment stages range from pre-seed to Series A, with check sizes varying according to the specific needs of the startups. The firm emphasizes the importance of supporting founders who are passionate about transforming the sports experience through technology. Geographic focus is primarily on the United States, aligning with their goal to enhance the sports and gaming landscape.
Drive by DraftKings has a diverse portfolio of 22 companies, showcasing its commitment to the SportsTech and Entertainment sectors. Notable portfolio companies include:
Notable exits from their portfolio include WHOOP, which raised over $200 million in a Series F round at a $3.6 billion valuation, and VidMob, which has raised over $110 million. Cardless has also made significant strides in the market.
Meredith McPherron - CEO & Managing Partner; brings over 25 years of investing and operating experience, having joined post-founding to lead all investments and operations.
Kiki Mills Johnston - Partner; has a background in mobilizing capital and networks for entrepreneurs, contributing to the firm's strategic direction.
Jon Von Deylen - Partner; possesses over 7 years of experience in investment banking and consulting, previously holding roles at Goldman Sachs focused on technology, media, and telecommunications.
Emily DeJoy - Operations; has 8 years of experience in the investment industry, supporting the operational aspects of the firm.
Josh Wasserman - Senior Associate; previously worked in investment banking at Goldman Sachs, specializing in technology, media, and telecommunications.
To pitch Drive by DraftKings, founders should visit their website at drivebydraftkings.com. It is recommended to include a comprehensive deck that outlines the business model, market opportunity, and how the startup fits within their investment focus. While specific response time expectations are not published, founders should anticipate a thorough review process.
Warm introductions are preferred, especially from individuals within their network. This can enhance the chances of receiving a timely response and establishing a connection with the investment team.
In November 2021, Drive by DraftKings announced the launch of its $60 million venture fund, aimed at investing in SportsTech and Entertainment. The firm has since made several investments in innovative startups within these sectors.
Notable portfolio developments include WHOOP, which raised over $200 million in a Series F round at a valuation of $3.6 billion, and VidMob, which has successfully raised over $110 million. The firm continues to expand its portfolio, focusing on companies that enhance the sports and gaming experience through technology.
What are Drive by DraftKings' investment criteria?
Drive by DraftKings focuses on early-stage companies in the SportsTech and Entertainment sectors. They look for startups that are innovating in areas such as human performance, media engagement, and data analytics.
How can I pitch to Drive by DraftKings?
Founders can pitch their ideas through the firm's website at drivebydraftkings.com. It is advisable to include a clear business model, market analysis, and how your startup aligns with their investment themes.
What makes Drive by DraftKings different from other investors?
Drive by DraftKings leverages its extensive network of industry experts and advisors to provide operational support and strategic guidance to its portfolio companies. This hands-on approach helps founders navigate challenges effectively.
What is the geographic scope of Drive by DraftKings' investments?
The firm primarily invests in companies based in the United States, focusing on startups that are positioned to enhance the sports and gaming experience through technology.
What is the typical check size for investments?
While specific check sizes are not publicly disclosed, Drive by DraftKings invests across various stages, from pre-seed to Series A, indicating a flexible approach to funding based on the needs of the startup.
What kind of post-investment involvement can founders expect?
Drive by DraftKings is committed to providing extensive support post-investment, including access to their network, operational assistance, and strategic guidance to help accelerate growth.
All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks, and brands does not imply endorsement.