Illustration: Aïda Amer/Axios " Sports " is often narrowly defined: you're either an athlete or you're a fan.
In reality, the sports world extends far beyond that , and investors are increasingly taking notice.
Driving the news: Will Ventures, a Boston-based early-stage venture capital firm, just closed a new 0 million fund to continue investing in sports and sports-adjacent businesses.
State of play: A few decades ago, the idea of a sports-centric VC firm was a foreign concept.
But as sports grow more intertwined with media and technology, "investing with a sports focus" is now a powerful thesis.
What they're saying: "A lot of the things that sports is a main driver of , digital media, health tech, the creator economy , are some of the leading sectors within venture capital," says co-founder Brian Reilly.
Between the lines: We often think of "sports" as being its own industry, but it's really more of a cultural touchstone with direct ties to other sectors.
A few examples: The big picture: Will Ventures is far from the only organization with a sports-centric view on investing.
The last word: Up until recently, "sport and entertainment was an area that could use a more professional investment lens," says Michael Spirito, founding partner and lead investor for Sapphire Sport. "Now there are a number of players, which speaks to how big the opportunity is." source