Scrum Ventures Closes New Tech Fund At $68 Million

Scrum Ventures, an early-stage venture capital firm, announced the closing of its first vertically focused tech fund Scrum Sports & Entertainment Fund I (SSE). This new fund, which closed at $68 million, invests in technology companies that support the growth of the sports and entertainment sector but also transcend the vertical and address market inefficiencies in other industries.

SSE has already established a strong foothold in the sports and entertainment sectors, having made strategic investments in 16 promising companies, including Fever, TMRW Sports, Campus Ink, Ozlo Sleep, Bandit Running, Volo Sports, and Misapplied Sciences. These early investments highlight Scrum Ventures’ commitment to identifying and supporting future leaders in these dynamic industries.

This fund is headed by Kazuhiro Kiyoshige and Michael Proman, two seasoned industry veterans. And Kiyoshige brings over two decades of experience in the sports and entertainment sectors, having honed his skills at Dentsu, where he specialized in international sports marketing and broadcasting rights. Proman complements Kiyoshige’s expertise with his extensive background in global marketing and development, having held key positions at Coca-Cola and the National Basketball Association before founding and successfully exiting his own startup, OptionIt.

These new fund’s limited partners include prominent Japanese corporations, including SBI Group, Oriental Land Innovations Co., Ltd., QR Investment Co., Ltd. Hokkoku Financial Holdings Group), KOEI TECMO Group JAPANET HOLDINGS Co., Ltd., Sumitomo Corporation of Americas, SEGA SAMMY HOLDINGS INC., TV Asahi Holdings Corporation, TOHO Global Inc., Nippon Television Holdings, Inc., HISA KINZOKU KOGYO., LTD, Sumitomo Mitsui Trust Bank, Limited, MUFG Bank, Ltd., WOWOW Inc. as well as other business companies, financial institutions, individual investors, etc.

KEY QUOTES:

“The sports and entertainment sectors are experiencing explosive global growth, and we see tremendous potential for technological innovation to disrupt and enhance these industries. Japan, in particular, is a market ripe with opportunity, and we’re uniquely positioned to leverage our deep connections and expertise to help our portfolio companies expand.”

– Tak Miyata, founder and general partner of Scrum Ventures