Sharp Alpha to Invest in iGaming Companies with $10 Million
Sharp Alpha Advisors, a leading iGaming advisory company owned by Lloyd Danzig, has raised $10 million for a venture capital fund to invest in early-stage technology betting and online gambling.
According to this Forbes article, the money was sourced from high-net-worth individuals, families, offices, and institutions.
This move aligns with Sharp Alpha's aim to expand its offerings in the 'big digital online ecosystem.' Rather than developing a gaming technology that can be time-consuming, Lloyd Danzing postulated that Sharp Alpha Advisors is focused on acquiring iGaming startups the way big companies like DraftKings and FanDuel do in the industry.
One of the things I'm most excited about are the startups that are building the products and infrastructure that will allow the DraftKings and FanDuels of the world to better speak to sports bettors who love to put a little money on the game to have a little extra rooting interest so that it can be more fun. All of the social and entertainment aspects of sports betting, in my opinion, have yet to be realized by the mass-market products. A lot of the companies we are investing in are going to be the vehicles that cause sports betting to be one of the most compelling products of the next decade.
Noticing the promising growth of online gambling and its legalization in the U.S, Danzig created Sharp Alpha two years ago to serve as 'strategic and financial advisor to startups, casinos, and professional sports organizations.
So far, the company's Fund I has invested in 11 several companies and spent over $2 million in seed and Series A funding rounds.
Commenting on the future dynamism of the industry, Danzig said, "This is all going to be part of one big digital online ecosystem. All of these competitive entertainment activities are being digitized, are being streamlined, are being socialized and gamified. We feel the sports betting industry and its current growth are one of the major catalysts towards the future of competitive entertainment."
More Finance News
RELATED TOPICS: Finance
Latest News
Most Read
Must Read
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Sharp Alpha to Invest in iGaming Companies with $10 Million