Cricketer Turns Investor Shikhar Dhawan Set To Back Sportstech Startups
On becoming an investor, Dhawan finds a lot of similarities between his two roles. He said, “I believe in energy. My effort would always have been to share a lot of positive energy with others while maintaining my individuality. The collaboration and partnership with the right set of people to make the right move are critical.”
Indian Cricketer and Entrepreneur, Shikhar Dhawan has announced a global investment fund worth USD 75 million to invest in sportstech startups with an initial corpus of USD 75 million and a greenshoe option of USD 25 million
“I am elated to start a new inning and embark on this journey in the world of venture capital. All this would not have been possible without the support of my commercial partners and the founding team’s commitment to this fund and its targeted deployment in Q1 2023-24,” said Shikhar Dhawan.
Sportsech Fund: Know The What And The Whys?
The proposition is a multi-stage fund focused on innovation across the sports spectrum. This is the first organised venture capital fund by an Asian Sportsperson. Shikhar Dhawan is known famously as an Indian cricketer, a left-handed opening batsman and occasional captain of the Indian national cricket team. Dhawan captains Punjab Kings in the Indian Premier League and Delhi in first-class cricket.
Dhawan while sharing the specifics about the fund said, “With our Sportstech fund under DaOne Global Ventures (DOGV), we will focus on both early stage as well as on growth stage startups. For lesser risks and high returns, with angel investors, we will invest more in the early stages.”
The deployment of funds will be global, as is the limited partner (LP) community. The fund will also have other prominent sporting personalities from across the globe representing multiple sports as ambassadors. Through this unique network, Da One Global Ventures (DOGV) will provide access to an ecosystem worldwide which will accelerate and mobilise new propositions in sportstech sector.
Three Things An Entrepreneur Needs To Keep In Mind
As Prime Minister Narendra Modi keeps reiterating that India is the economy of job creators. As an influential figure, Dhawan is excited and looking forward to fund and nurturing young startups eyeing impact-making and value creation.
For Shikhar Dhawan, these are the top three aspects for an ideal entrepreneur to build a brand. He said that a passionate founder, a good team and their zeal to work towards a collective mission of growth and development are the most important things.
“I was never afraid of failures. Fail, stand up and learn from the but keep doing. There is a line of motivation that I never forget. My mother used to say to me, “Koi Baat Nahi” (Translates to – No Problem),” he shares while sharing his advice to young entrepreneurs on how to do a comeback when fail.
Dhawan On DaOne’s Plans
As a sportsman, he feels that it’s a short-span career and hence it was very important to foray into and set up a parallel professional stream. “I am thankful to a very amazing team of smart and intellectual people who have come together to discuss this fund idea. To make it happen, my team did invest a whole year for in-depth research and development,” Dhawan stresses.
On becoming an investor, Dhawan finds a lot of similarities between his two roles. He said, “I believe in energy. My effort would always have been to give a lot of positive energy to others while maintaining my individuality. The collaboration and partnership with the right set of people to make the move are critical.”
Da One Global Ventures (DOGV) will go beyond traditional investing models and will provide domain knowledge and unprecedented access to sporting ecosystems across the globe. “We are making a humble beginning but aim to scale this to greater heights and aspire to set new benchmarks for leading in Venture Capital, Sports and Technology,” Dhawan asserts.
Da One Global Ventures (DOGV) is in active discussions with various relevant stakeholders across the globe and further developments will be announced in due course. Da One Global Ventures (DOGV) will also incubate a SportsTech Accelerator & eSports Venture studio as distinguishing verticals within its platform.