Holt Xchange, a Montreal-based early stage FinTech investor, has created a fund that focuses on financial technologies that “revolutionize” sports media and entertainment.
The fund will invest in Web3 startups during the Series A and Seed stages. They are looking for digital collectibles, smart contracts, and non-fungible tokens to disrupt business models within the sports media and entertainment sectors.
Holt Xchange is currently raising funds for its Sports Media and Entertainment Fund. While the firm did not disclose the target size, a source who is familiar with the transactions told BetaKit that Holt Xchange aims to raise $100 million USD. Holt Xchange’s family office, Holdun, has agreed to be the fund’s anchor investor.
They have assembled a celebrity-studded advisory board to help position the fund’s thesis to the wider investment community. Raine Maida, the frontman of Our Lady Peace, Canadian tennis players Milos Raonic, Jennifer Bishop, Niels Juul, a Hollywood producer, and DeMar DeRozan, an NBA all-star, are just a few of the celebrities.
Amid economic downturns where valuations typically fall and venture investing becomes far less competitive during these periods, Holt Xchange could have an opportunity to win allocation into high-quality deals.
We’ve seen big money pour into sports as of late.
Holt Xchange will launch this fund and also create an “additional investing model” to allow more investors to take part in its venture capital investments — they currently allow family offices and accredited investors to participate.
The firm plans to open its eligible investor platform next year and will expand its reach to qualified investors.
