The Avenue Sports Fund announced that it made a significant minority investment in CityPickle, which focuses on opening pickleball clubs in urban centers.
The amount and terms of the investment were not disclosed.
The influx of capital will support CityPickle’s plans to expand the locations of its permanent indoor pickleball club concept in addition to strategic activations at landmarks in urban areas.
Co-founded by entrepreneurs Mary Cannon and Erica Desai, CityPickle focused initially on New York City and the Greater New York market, where research suggests 5 to 6 million consumers played pickleball in 2023 despite a limited number of courts.
In fall 2023, CityPickle opened its first permanent pickleball club in Long Island City, NY and is the seasonal partner of Wollman Park Partners, which operates the Wollman Rink in Central Park, New York City.
CityPickle at Wollman Rink is the largest pickleball installation in the Northeast, with 14 permanent courts, providing 182 hours of daily play.
CityPickle operates other seasonal pickleball venues, including a seven-court indoor location at Brooklyn’s Industry City, Hudson Yards, Union Square Park and Philadelphia’s City Hall.
In June 2024, it was announced that CityPickle was selected by NYC Parks to revitalize Anchorage Plaza, the 60,000-square-foot space under the Brooklyn Bridge, with pickleball courts, public art, community programming, and food trucks debuting in Spring 2025.
“There is a significant opportunity to provide permanent and pop-up pickleball locations to service the growing and passionate demand for this sport,” said Marc Lasry, Avenue Capital’s chairman, CEO and co-founder. “CityPickle, led by co-founders Erica Desai and Mary Cannon, has established a special brand that is relevant to urban locations nationwide. We are excited to join, with the CityPickle team to support its expansion strategy.”
“We are thrilled to have the Avenue Sports Fund join our team at CityPickle as we further our mission to spread the joy and community of pickleball in New York City and other metropolitan areas,” said CityPickle’s Cannon. “We’ve experienced an overwhelming demand for more access to pickleball and are looking forward to expanding our ability to offer a best-in-class experience to the rapidly growing player population alongside our new partners at Avenue Sports Fund,” added Erica Desai.
Image courtesy CityPickle
