A 27-page report breaks down where the money is flowing in sports tech and the investors to watch. Here were 5 key takeaways.
Sports tech M&A activity in 2022, from Drake Star's Global Sports Tech Report 2022.The fourth quarter saw a surge in M&A volume with 67 deals, the most in the sector's recent history. It's a sign that more consolidation could be on the way.
Funding for private companies, which has been more challenging to come by across the board, dipped year over year in the sector in 2022, according to the report. But several firms, from early to late-stage investors, have cashed up recently with the express purpose of investing in sports tech, which could drive larger rollups in the year ahead.
Sports-tech investors raised more than $5 billion in fresh capital in 2022, which could lead to rollups in the year ahead. Entain was the top strategic buyer in 2022, alongside Fanatics, Sony, and several other companies that have big ambitions in sports. PE-backed platforms like Bruin Capital's TGI Sports and Hudl, and Serent Capital's Kore, are also"highly acquisitive" and looking for synergistic targets, from IP to fan-engagement tools, as part of their"buy-and-build" strategies, the report said.
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