Deals

Jerry Jones, Robert Kraft Among Investors in Drive by DraftKings

Drive by DraftKings has raised $60 million.
The VC firm plans to invest in sports technology and entertainment companies.

Oct 20, 2021 | 03:37 pm

UPDATED Oct 20, 2021 | 03:47 pm

David Butler II-USA TODAY Sports/Design: Alex Brooks

Drive by DraftKings, a venture capital firm backed by DraftKings, has raised $60 million for its first fund with plans to invest in sports technology and entertainment companies.

Notable investors include New England Patriots owner Robert Kraft, Dallas Cowboys owner Jerry Jones, Los Angeles Dodgers part-owner Todd Boehly, Madison Square Garden Sports, and Arctos Sports Partners.

The firm has already made a series of investments across its target industries.

It was part of a $3.5 million seed round in May for digital media platform Just Women’s Sports.
Last month, the firm led a $4 million funding round in Toya, a female-founded gaming studio.
It is also an investor in fitness wearable maker WHOOP and Guidesly, an app that advises users on fishing trips.

Drive by DraftKings’ newly created All-Star Network — advisers of the firm’s investment strategy — includes several other big names like MLB executive Theo Epstein and Red Sox CEO Sam Kennedy.

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