Shikhar Dhawan turns investor, scouts for sports tech startups

• ByStartupStory     |    December 27, 2022

Indian Cricketer, Shikhar Dhawan’s new venture capital fund, Da One Global Ventures, is looking for sports tech companies to invest in at an early stage and will begin deploying funds in the first quarter of the next fiscal year.

“We will invest in both— early stage as well as series A rounds. We may lead in one or two rounds but, essentially, 80% of the startups we will invest in will be in the form of syndication. We will only go solo in 20% of the deals, which we feel are really ideal from our perspective,” he said.

According to Dhawan, who captains the Punjab Kings franchise of the Indian Premier League, it was important for him to diversify since a sportsperson has limited time on the field.

“I know I am a versatile person with a lot of potential, but I also realize the importance of diversifying, as even though cricket is my bread and butter, and I have been playing for the country, the time on the field is limited. The natural progression is you start doing commentary or become a coach or an expert, but I wanted to think beyond, challenge myself and turn those challenges into opportunities. This is why we launched Da One Group, which looks after my investments and businesses. I have also understood that when you have an amazing team, you don’t have to worry at all. I have a great team, which does all the hard work,” Dhawan said.

Dhawan said in an interview that the Abu Dhabi-based fund’s investments would range from $500,000 to $5 million. The global fund, which plans to raise $50 million from investors with the option of keeping up to $25 million in additional commitments, was announced this month during Abu Dhabi Finance Week.

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