Ahead of the official opening of its new Frisco headquarters in August, the PGA of America has joined a new investment partnership to further innovation in golf.
Joining Elysian Park Ventures, the private investment arm of the Los Angeles Dodgers’ ownership group, the more than century-old PGA has formed EP Golf Ventures, LLC, an investment vehicle aimed at innovations that help the growth of the game.
“Through EP Golf Ventures, we’ll 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,” said Seth Waugh, PGA of America CEO, in a statement.
The PGA says it has nearly 28,000 professional members.
EP Golf Ventures has already made two investments
EP Golf Ventures will target investments in areas including coaching and training; health, wellness, and performance science; hospitality; facility management; retail; and agriculture. PGA of America Senior Director of Growth and Ventures Kris Hart told the Sports Business Journal that when making investments, the organizations will consider benefits to PGA members, financial return, and game growth.
So far, EP Golf Ventures has already invested in two companies: Washington-based Sportsbox AI, a 3D motion-capture coaching app startup; and California-based mobile golf simulator Dryvebox.
“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,” said Jay Adya, managing director at Elysian Park Ventures, in a statement.
PGA’s high-tech headquarters
PGA of America and Elysian Park say they have both have committed capital to the fund and are currently vetting additional investors.
The formation of EP Golf Ventures comes as PGA of America moves into its new $520 million, 660-acre mixed-use campus in Frisco. When Waugh detailed the PGA’s plans following the announcement that it was relocating to Collin County from its previous headquarters in Florida, he called the Frisco campus “the Silicon Valley of golf.” At the time, he noted planned amenities including an innovation lab, educational facilities, and two championship golf courses.
“The PGA of America is committed to developing and growing the game for the current and next generation of players, golf facilities, and PGA professionals,” Waugh said.
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