The investment branch of the Los Angeles Dodgers’ ownership group and PGA of America have partnered in a venture to spur innovation in the $84 billion golf industry.
Elysian Park Ventures and PGA of America have already used the EP Golf Ventures partnership announced Wednesday to invest in AI swing-analysis company Sportsbox and mobile golf simulation firm Dryvebox.
Financial terms of those investments and how much money Elysian Park Ventures and the PGA seek to dedicate to the partnership were not disclosed.
“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,” PGA of America CEO Seth Waugh said in a statement. “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.”
PGA of America — which has nearly 28,000 members composed of coaches and others who seek to grow golf in the U.S. — has been run separately from the PGA Tour since 1968.
“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,” Elysian Park managing director Jay Adya said in a statement. “EP Golf Ventures combines the golf industry expertise of the PGA of America with the institutional knowledge of our team at Elysian Park.”