Sports
USTA partners with LEAD for strategic tennis-focused investments
The USTA National Campus in Orlando, Florida. (Photo by Jamie Schwaberow/NCAA Photos via Getty … [+]
The United States Tennis Association (USTA) continually strives to grow and promote the sport of tennis. A new partnership with global venture capital firm LEAD can help find new ways to make that happen.
As the USTA joins as a strategic collaborator of LEAD One, a new direct investment vehicle for pre-seed companies, the USTA aims to gain access to startups and technologies intended to boost tennis business. “Working with LEAD allows USTA Ventures to partner with an entity that has an established track record of success,” says Brendan McIntyre, senior director of corporate communications for the USTA, “and helps us identify opportunities that we might otherwise had not discovered.
Justin Driscoll, head of investments and portfolio at LEAD, tells me the new effort aims to make an impact in areas such as player development, grassroots activation and business-related initiatives. The focus of the partnership is intended to accelerate innovation in sports and technology to grow tennis at every level.
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The two entities came together at a shared location in Orlando because LEAD and the USTA's National Campus share a headquarters, which will also enable the USTA and LEAD to identify and respond to overlapping opportunities across our verticals, Driscoll said.
“By leveraging this partnership, we can help the USTA refine its business strategy and introduce innovations that resonate across all departments,” Driscoll said. These include improving operations for USTA clubs and developing tools and technologies that players of all levels can benefit from. Ultimately, the collaboration supports a ripple effect of innovation, driving progress that serves both organizational goals and individual athletes.
Driscoll says the partnership will appeal to startups looking for capital and expertise. While tennis-specific solutions will be the focus, the USTA's business needs extend beyond on-court operations, Driscoll says. Entrepreneurs looking for immediate growth and alignment with a global tennis leader will find this partnership particularly attractive.
McIntyre says that as the organization looks to grow USTA Ventures, they strive to gain a level of insight and expertise that will help the organization while investing in entities that can benefit the USTA's overall mission.
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As part of the LEAD One effort, the program's portfolio of early-stage organizations will gain access to real-world settings through the USTA. The variety of platforms available through the USTA, whether a grassroots community initiative or the US Open, provides opportunities for acceleration and improvement for startups.
We look forward to working with LEAD and other groups that can help USTA Ventures identify potential investment opportunities with initiatives that align with our priorities, says McIntyre, with a focus on more effectively delivering tennis, the healthiest sport in the world, to more people. and more communities in this country.
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Sources 2/ https://www.forbes.com/sites/timnewcomb/2024/12/02/usta-partners-with-lead-for-strategic-tennis-focused-investments/ The mention sources can contact us to remove/changing this article |
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