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DraftKings Backs New VC Firm
Photo courtesy Drive By DraftKings
A recent article in the Boston Globe reported that the venture capital firm Drive by DraftKings, led by Meredith McPherron (MBA 1993), had raised its first venture fund.
Called Drive by DraftKings, McPherron tells the newspaper that the firm will focus on “sports and gaming, media and fan engagement, human performance, and data analytics and monetization.” The $60 million in initial funding, the Globe notes, includes capital from DraftKings as well as the ownership of the New England Patriots, Dallas Cowboys, and the Los Angeles Dodgers, with a network of advisors that includes former Boston Red Sox general manager Theo Epstein and Olympic hockey gold medalist Hilary Knight.
The article also tracked the rise in sports startups in the Boston area more generally, highlighting both Will Ventures, cofounded by Isaiah Kacyvenski (MBA 2011), and Causeway Media Partners, cofounded by Bob Higgins (MBA 1970)—who said the opportunities for sports and fitness today were “almost like 1980s venture capital. There are a lot of interesting things going on, but it’s not overwhelmed with capital.”
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