The PGA of America has joined forces with Elysian Park Ventures to create a new investment partnership designed to support innovation in the golf industry.
Elysian Park Ventures, the private investment arm of the Los Angeles Dodgers ownership group, holds a vast portfolio of some of the most exciting brands and companies operating in sports technology, entertainment, health, fitness and wellness.
The new start up, EP Golf Ventures, will invest in areas that drive value across the $84 billion-plus golf industry, which is led by the nearly 28,000 PGA Professionals who comprise the PGA of America. Targeted areas include: coaching and training; health, wellness and performance science; hospitality; facility management; retail; and agriculture.
EP Golf Ventures has already made investments in two companies: Sportsbox AI, an AI-powered technology company that develops coaching applications through markerless 3D motion capture; and Dryvebox, which was built to increase golf access to all through a mobile golf simulator that offers lessons, practice sessions, virtual golf and private events.
“The PGA of America is committed to developing and growing the game for the current and next generation of players, golf facilities and PGA Professionals,” said PGA of America CEO Seth Waugh. “Through EP Golf Ventures, we will be able to identify and invest in the most promising businesses within the golf industry to support both innovation and the growth of the game, as well as create long-term value for PGA Professionals. Elysian Park Ventures has an impressive portfolio of businesses and entities operating within the sports industry, and we are thrilled to partner with them on this venture.”
Both Elysian Park and the PGA of America have directly committed capital to the fund and are currently in the process of selecting additional investors.
“Golf is one of the world’s fastest growing sports, and there is an enormous opportunity to innovate, improve and extend the reach of the game on and beyond the course,” said Jay Adya, Elysian Park Ventures Managing Director. “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 EP Golf Ventures and the strategic investments we make will have a positive, prolonged impact on the game of golf and create real value for stakeholders.”