Dick’s Sporting Goods, Inc. launched DSG Ventures, a $50 million investment fund targeting sports-related companies. The retailer said the fund would focus first on outfits that directly serve athletes and their communities or that help the company better serve its own athletes.
The fund will help the companies grow using Dick’s capital, distribution channels, retail experience, and relationships with athletes.
DSG Ventures’ first investments include Moolah Kicks, a New York City-based shoe brand focused on female basketball players; SidelineSwap, a Boston-based online seller of sporting goods; and Out&Back Outdoor, a Denver, CO-based broker selling used outdoor gear.
Details on how much Dick’s Sporting Goods invested were not disclosed.
DSG Ventures is also working with New York City-based marketing company VentureFuel, Inc. to identify startups that it could collaborate with to enhance the customer experience.
“Dick’s would not be what it is today without the support we received along the way from others who saw our company’s potential,” Dick’s Executive Chairman Ed Stack said in a statement. “Now, DSG Ventures will enable us to give back and help support entrepreneurs achieve their dreams through our connections, experience and support.”
Logo courtesy DKS
