Shikhar Dhawan pads up for new innings, scouts for sports tech firms

In an interview, the 37-year-old left-handed batsman mentioned the Abu Dhabi-based fund’s investments would vary from $500,000 to $5 million. The worldwide fund, which plans to boost $50 million from traders with the choice to maintain further commitments of as much as $25 million, was introduced this month through the Abu Dhabi Finance Week.

“We’ll spend money on each— early stage in addition to collection A rounds. We could lead in a single or two rounds however, primarily, 80% of the startups we’ll spend money on will likely be within the type of syndication. We’ll solely go solo in 20% of the offers, which we really feel are actually preferrred from our perspective,” he mentioned.

In accordance with Dhawan, who captains the Punjab Kings franchise of the Indian Premier League, it was necessary for him to diversify since a sportsperson has restricted time on the sector.

“I do know I’m a flexible individual with loads of potential, however I additionally understand the significance of diversifying, as regardless that cricket is my bread and butter, and I’ve been taking part in for the nation, the time on the sector is restricted. The pure development is you begin doing commentary or turn into a coach or an skilled, however I wished to assume past, problem myself and switch these challenges into alternatives. This is the reason we launched Da One Group, which takes care of my investments and companies. I’ve additionally understood that when you might have a tremendous staff, you don’t have to fret in any respect. I’ve a terrific staff, which does all of the arduous work,” Dhawan mentioned.

“It’s a fund specializing in the enterprise of sports activities, so sports activities tech, e-sports, gaming, web3.0, and sports activities infrastructure firms will likely be our goal firms. We can even take a look at investing in among the groups throughout international leagues,” he mentioned.

On deciding on sports activities tech as a site, he mentioned that sports activities is nearly a $500 billion annual enterprise internationally and is at a really fascinating intersection the place it’s now ripe for disruption.

“There’ll be loads of expertise integration within the area of sports activities. It’s sizeable and has began to get organized. So, I suppose, it’s a perfect alternative and timing for us. Many sectors inside sports activities are evolving, like net 3.0, which is why it’s superb timing for us. It’s at all times necessary to get in early and get most progress,” he mentioned.

Amitesh Shah, chief government of Da One Group, and Mohammed Sirajuddin, entrepreneur and shut confidant of Dhawan, have labored for nearly a 12 months to carry the fund to life.

“Virtually one 12 months of analysis, homework, lots of of conferences and interactions have gone into this,” Dhawan added.

Whereas the fund is headquartered in Abu Dhabi and can take a look at startups internationally, India will likely be a giant goal market due to the variety of shoppers, he mentioned.

“We launched the worldwide fund as a result of it’ll join to numerous startups around the globe. We can even get extra sportspeople as companions. The fund will likely be managed by somebody with expertise in managing huge—$800 million-$1 billion funds,” Dhawan added.

Whereas sports activities tech hasn’t seen huge investments in India, with total investments within the sector pegged at beneath $150 million within the final 5 years, the nation is the third-largest startup ecosystem on this planet.

“What we’ll carry to the desk isn’t just cash but additionally an in depth international community of the sporting ecosystem, which can primarily prolong to the startups we spend money on,” Dhawan mentioned. “By way of fund cycle, we’re six-plus-one-plus-one— virtually eight-year fund cycle, however the thought is to do an excellent execution of the fund within the first two to two-and-a-half years, after which we’ll additionally begin constructing the fund II.”

By the way, investing is just not new to Dhawan.

He has invested in yoga startup Sarva; and has six-seven firms beneath Da One Group—from basis to sports activities academy to hospitality and, now, this international fund. He’s additionally planning to enter the hospitality sector with the launch of a sports activities cafe subsequent month in Dubai.

On the fund’s funding philosophy, Dhawan mentioned, “Once we spend money on firms, there are 4 or 5 key parameters which we’re . First is clearly the staff: how balanced the staff is. Then, the product-market match. Ideally, we’re firms that have already got some preliminary traction. And from our perspective, we’re additionally a related strategic match as a result of we need to spend money on firms whereby we additionally add worth to them,” he mentioned.