Bossa Nova Sports Tech Fund
Contxto – “I truly believe in the molding, values, and lessons you learn through sports regardless of whether you’re a high performance athlete or not.” This is the vision former Olympic swimmer Thiago Pereira is bringing as a team member for Bossa Nova’s newest investment project.
This past Thursday (1), the Brazilian venture capital fund announced the launch of a R$5 million (~US$885,000) fund for sports tech startups.
The investment team will focus on very early-stage startups in the sports or wellness industry. Correspondingly, it wants to partake in up to 15 companies with tickets ranging from R$100,000 to R$300,000 (US$17,000 to US$53,000).
According to the fund’s website, Bossa wants B2B or B2B2C companies that’ve been operating for at least a year and have a validated product.
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Bossa Nova brings in the pros
For its new fund, Bossa Nova brought together experts from various fields.
There’s Carol Paiffer (Founding Partner at Atom Investimentos), Pablo Marçal (business tycoon), and Italo Nogueira (CEO at CMTECH and head of the Federação ASSESPRO, a tech company association).
Simultaneously, Bossa brought on athletes like Pereira, former swimmer Joel Jota, and Pablo Felipe Teixeira, a football (or soccer) player for the São Paulo FC.
It’s no coinkydink that the Brazilian VC built a team with such varying backgrounds.
When it comes to sports tech, there are recurring problems like costs, risk aversion, and unqualified decision makers. All of which dissuades stakeholders from pitching funds.
Correspondingly, it would appear that Bossa’s answer to these problems is to assemble a team with varying experiences.
Covid-19, sports, and tech
With the coronavirus outbreak, at first glance, it might seem like sports tech took a back seat. But don’t count it out just yet.
One vertical that’s attracted a lot of attention in recent months are media platforms that connect sporting events with fans.
Case in point are Colombian Rebus and Brazilian Esportudo that made it into the Techstars Sports Accelerator in July. Both these companies’ solutions focus on building communities around sports and enhancing the viewing experience.
Moreover esports also became an attractive venture, whether for betting or actual playing.
And for the population as a whole, the pandemic showcased the importance of exercise to stay physically and mentally healthy. A concern that will outlive the baddest bug of the 21st century.
And when that happens the startups funded by Bossa Nova will be ready.
Related articles: Tech and startups from Brazil!
-ML
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