Sharp Alpha Advisors announced the final close of its second fund this week, an oversubscribed venture capital fund dedicated to investments in early stage sports, gaming, and entertainment businesses.
The announcement comes at a time ripe for growth in the venture capital industry, according to Lloyd Danzig, a renowned investor and managing partner of the firm. Sharp Alpha Fund II, an oversubscribed $25 million venture capital fund, is targeting 15 companies in its portfolio.
The fund targets seed investments in the range of $1 million to $2 million. Sharp Alpha Fund II is backed by public companies, U.S. financial institutions, owners of professional sports teams, family offices, top venture capitalists, and others. Sharp Alpha also operates a co-investment vehicle that provides limited partners with the ability to invest additional capital in select deals alongside the fund.
“The competitive entertainment category is experiencing exponential growth, but is desperate for innovation that early stage companies are best positioned to supply,” said Danzig, in a statement.